Author: Chouguo Xian Source: China Chemical Industry News October 30, 2019

Sinochem New Network News On October 25, the Information Office of the Gansu Provincial Government announced that Changqing Oilfield discovered the 1 billion-ton Qingchengda oilfield in Qingyang, Gansu, which marked China’s significant gain in unconventional oil exploration breakthrough.

According to reports, the Qingcheng Oilfield reservoir is located in the Chang 7 oil-generating layer in the Ordos Basin, which belongs to the category of shale oil that is extremely difficult to develop effectively. At present, 358 million tons of geological reserves have been proved, and 693 million tons of geological reserves are predicted, forming a scale of 1 billion tons of reserves. On September 25, the shale oil (tight oil) in the Chang 7 oil-bearing layer named after Qingcheng Oilfield passed the final review of the Ministry of Natural Resources. The Qingcheng Oilfield, which has a reserve scale of 1 billion tons, is expected to form a production capacity of 3 million tons in the next 3 to 4 years, which will play an important role in supporting Changqing Oilfield's national oil and gas safety strategy.

Since the large-scale production capacity construction of Qingcheng Oilfield in September 2017, 216 horizontal wells have been drilled and 100 oil wells have been put into production. The daily crude oil production has reached 1464 tons and the annual crude oil production will reach 640,000 tons. By the end of this year, Qingcheng Oilfield will complete the drilling of 255 horizontal wells, forming an annual production capacity of one million tons of crude oil.