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China adds 1.21b tons of oil reserves in 2007

(Agencies)
Updated: 2008-04-17 15:04

China added 1.21 billion tons of oil reserves and 697.4 billion cubic meters of gas reserves in 2007, the Ministry of Land and Resources said in a report.

The ministry did not specify whether the reserves are in the proven or recoverable category.

In 2006 China's new proven reserves of crude oil were at 949 million tons with new proven natural gas reserves at 581.6 billion cu m.

New oil finds last year involving reserves of at least 100 million tons included Jidong Nanpu, Daqing Gulong and Changqing Jiyuan fields, which are run by PetroChina.

Newly discovered natural gas deposits of at least 30 billion cubic metres include Jilin Changling, Changqing Shenmu, Sichuan Guangan, Tarim Dabei and Beifang Songnan fields, which are run by either PetroChina or Sinopec.

China also added coal reserves of 40.63 billion tons in 2007, the ministry said.