PetroChina announced today that a major breakthrough has now been made in Gulong shale oil exploration in the Pingchang area of Daqing Oilfield.
Discovered in 1959, the Daqing Oilfield, located in northwest China's Heilongjiang Province, is the largest oilfield in China.
So far 43 vertical wells and 5 horizontal wells have started producing shale oil at a high production rate. By the end of 2021, a total of 1,413 square kilometers of shale oil-bearing area will have been prospected and confirmed. The predicted geological reserves in the shale oil field stands at 1.268 billion tonnes.
Gulong shale oil exploration will play an important role in attaining Daqing Oilfield’s goal of producing crude oil and gas for more than 100 years.
Shale oil exploration is unfolding in the Daqing Oilfield. 100 wells will be drilled by the end of 2021, with 58 of which have been completed for tests and oil-pumping. During the 14th Five Year Plan period between 2021-2025, the annul shale oil production in Daqing is expected to top 1 million tonnes.