China’s Sinopec has received certification of another 30.55 billion cubic metres of proven geological reserves in a deep natural gas reservoir of the Bazhong gas field in the Sichuan basin, Reuters reported.
With China’s Ministry of Natural Resources certification, the new reserves have raised the company’s total proven geological reserves in the northeastern part of the Sichuan basin to 154.7 Bcm, according to a company statement.
“This discovery testifies that the tight gas formations in northeastern Sichuan has fairly good exploration potential and is a meaningful contribution to the national energy security,” the Chinese oil and gas major said.
According to Reuters, Sinopec said the reservoir in the Bazhong field is extra-deep, some 4550 to 5225 metres below the surface, adding that a task force has been set up to meet the technological challenges of the field.
The state-controlled energy company reported earlier in July that it increased its gas production in the first half of this year.
Sinopec’s natural gas production rose by 7.6% year-on-year to 18.7 Bcm.
The company’ crude oil output remained unchanged at 139.68 million barrels of oil equivalent — comprising 124.68 million boe from domestic fields and 15 million boe from overseas assets.
