Significant Discoveries in 2016

In 2016, our domestic exploration resulted in newly proven oil and gas in place of 649.29 million tons and 541.9 billion cubic meters respectively, and proven oil and gas reserves exceeding 1 billion tons of oil equivalent for the tenth consecutive year.

New exploration breakthroughs include:

370 million tons of oil in place was newly proved in multi-layer stereo exploration in Changqing.
A dolomite reservoir was discovered and high-yield oil and gas flow obtained in the Tarim Basin, adding over 60 million tons oil reserves;
91.54 million tons of controlled and predicted reserves were identified in Mahu Sag and 160 million tons of proven, controlled and predicted reserves were identified in the Chefeng and Jinlong areas in the Junggar Basin.
A 100Mt-grade reservoir was discovered in deep subsalt layers in Qinghai.
High-yield oil and gas flows were obtained from buried hill reservoirs in the Bohai Bay Basin.
Progress was made in natural gas exploration, including over 600 billion cubic meters of basically proven gas in place newly added in Sulige; over 200 billion cubic meters of controlled and predicted reserves identified in Shenmu and Longdong respectively; and two new gas bearing structures discovered in the Keshen area of Tarim Basin, adding 300 billion cubic meters of proven gas in place to the whole Keshen area.
New gas bearing strata were encountered in Well Shuangtan-3 in northwest Sichuan, and a giant gas zone with 1.5 trillion cubic meters of gas in place took shape in the Gaoshiti-Moxi area in central Sichuan.