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Major oil, natural gas findings reported
(Xinhua)
Updated: 2004-08-27 14:18

Chen Xinfa, general manager of the Xinjiang Oilfields Company, told a symposium on oil and gas prospecting strategy in Junggar Basin Thursday that the oil and gas flows were found with Shinan-No 31 well, Mo-No 10 well and Dixi-No 10 well, all located at the center of Junggar Basin, and Xia-No 72 well at the basin's northwest fringe.

According to Chen, Mu-No 7 well and Jiuyun-No 1 Well in the eastern part of the basin, and Mo-No 12 well in the basin's heartland, and Gaoquan-No 1 on the southern fringe of the basin also showed the evidence of oil and gas flows.

Situated in northern Xinjiang, Junggar Basin boasts 8.6 billion tons of oil reserve and 2.1 trillion cubic meters of gas resources in a 130,000 square kilometers area for prospecting.

Xinjiang Oilfields Company has, in the past four years, verified 261 million tons of geological oil reserve and another 14.59 billion cubic meters of natural gas reserve in the basin.

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