Some good news for China!! PetroChina which is one of the largest oil companies in the country has struck gold in the oil fields of Bohai Bay. The company claims that this is a very rich oil field and is being considered as one of the biggest findings in the last one decade in China. This discovery is expected to have a positive effect on the production capacity of China. Along with discoveries in Bohai the company has also struck oil in Sichuan Province.
Jiang Jiemin, Vice-chairman and president, PetroChina stated:
With an initial daily output of 500 tons (3,700 barrels), the Bohai Bay field is “the largest find in China in 10 years
Bohai Bay has yielded a test output of 1,600 barrels of oil and 10 million cubic feet of gas per day. This discovery is surely expected to go a long way in meeting the increasing energy needs of the country and at the same time offer it some form of independence in the energy sector.
Via cri
