Xinjiang Oilfiled Produces Over 50 Million Tons Crude Oil in Past Five Years
Posted on: Thursday, 11 August 2005, 09:01 CDT
Xinjiang oilfiled produces over 50 million tons crude oil in past five years
URUMQI, Aug. 10 (Xinhua) -- Crude oil output of the Xinjiang Oilfield Company in China's westernmost Xinjiang Uygur Autonomous Region has reached 50.69 million tons in the past five years, the company said.
During the same period, the company has turned out nearly 10.2 billion cubic meters of natural gas.
Oil output registered an average annual net growth of 428,000 tons and an average yearly gas output of 210 million cubic meters over the past five years, the company said on Tuesday.
Meanwhile, the company has proven up a total of 321 million tons of oil reserves.
The Junggar Basin is a major oil and gas field of the company and one of China's four basins with up to a proven reserve of 10.3 billion tons.
Xinjiang Oilfield Company is a branch of the China National Petroleum Corporation. In 2002, the company became the first oilfield with the capacity of turning out 10 million tons of crude annually in northwestern China, and its crude output exceeded the 10- million-ton mark.
Source: Xinhua News Agency - CEIS
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