China finds reserve with 1 billion tons of oil

An extremely deep oil and natural gas well has been discovered in the Tarim basin in the northwestern Xinjiang Autonomous Region of China. The well has about one billion tons of oil, the largest find in the basin in nearly ten years, according to the National Petroleum Corporation of China (CNPC).

The new well is located in the Fuman oilfield area, a main block for crude oil production in the Tarim oil zone. The drilling depth reached 8,470 meters.

According to Yang Xuewen, manager of the Tarim Oilfield company, the new production area was found after 56 wells were drilled at the Fuman oil field. The Tarim basin is the largest oil and natural gas reserve in China, with about 16 billion tons of oil and gas reserves discovered to date.

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