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China's oil production ranks fourth in the world
November 1, the Ministry of Land and Resources held a news conference and declared that the 10 years since the 16th CPC National Congress was the best decade of oil and gas exploration and development situation in China. Annual oil production increased from 160 million tons in 2002 to 203 million tons in 2011, and rose from the fifth place in the world to the fourth place. Annual natural gas production increased from 22.9 billion cubic meters in 2002 to 101.3 billion cubic meters in 2011, and ranked from the 18th place to 6th place in the world.
The Ministry of Land and Resources also introduced dynamic evaluation results finished in 2011 of national oil and gas resources: By the end of 2011, the amount of national Petroleum Geology resources was 93.9 billion tons which increased by 22.7% compared with 76.5 billion tons of 2007. The amount of national geological resource of natural gas was 54.6 trillion cubic meters which increased by 55.8% compared with 35 trillion cubic meters of 2007.
Among this, the amount of northeast petroleum geology resources got substantial growth compared with previous evaluation results. PetroChina geological resources amount got an increase of 34% and the shale oil potential was very great. The amount of geological resources of natural gas got an increase of 127% and the geological resources of shale gas oil amounted to 5.9 trillion cubic meters, and the geological resources amount of shale oil is 594.3 billion tons which got an increase of 74%.
The deputy director of the Oil and Gas Resources Strategy Research Center of the Ministry indicated that the dynamic evaluation results of northeast oil and gas resources promoted the industry to form a new understanding of national oil and gas resource potential.
According to reports, before 2030, average annual proven geological oil reserve in northeast China will be 150 million tons, oil production will maintain at a level of 50 million tons. Average annual proven geological natural gas reserve will be 40 billion cubic meters and the production will get a rapid growth expected to reach 26 billion cubic meters. Overall, by 2030, northeast oil equivalent amount will present upward trend.
By 2030, China’s annual conventional oil production will still maintain at the level of more than 0.2 billion tons, annual unconventional oil production will be 30-50 million tons. Annual conventional natural gas production will be close to 300 billion cubic meters, annual unconventional gas production will be 150 billion cubic meters. So the total oil production will be expected to 250 million tons, total natural gas production to 450 billion cubic meters and oil gas production will be more than 600 million tons of oil equivalents so as to greatly enhance domestic oil and gas support capability.
 
 
Source:Internet
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