PetroChina has discovered a large oilfield with an expected reserve of over one billion tons in the northwest edge of the Junggar Basin, located in the Xinjiang Uyghur Autonomous Region.
The discovery at the Mahu Sag center by the Xinjiang Oilfield Corporation, a unit of PetroChina, was listed as one of PetroChina’s ten most important oil and gas explorations this year, according to ts.cn.
Oil and gas exploration at the Mahu Sag center started in 1993. For the past 20 years, the Sag area has been a significant front in oil and gas exploration.
The new oilfield is expected to usher in a new base for oil and gas reserves and production in Karamay, said Zeng Jun, section chief of the Xinjiang Oilfield Corporation.