ECF China Shale Weekly Review - Feb 16, 2020
From this year to February 12, Xinjiang Oilfield Company's shale oil demonstration zone has produced a total of nearly 25,000 tons of crude oil and verified a daily production level of 590 tons.
It is reported that in 2020, Xinjiang Oilfield Company plans to drill 48 new shale oil wells, build a new capacity of more than 390,000 tons, and produce more than 300,000 tons of oil.
Xinjiang Jimusar National Terrestrial Shale Oil Demonstration Zone, developed and managed by Xinjiang Oilfield Company Jiqing Oilfield Operation Zone, is the first national shale oil demonstration zone in China. The demonstration area was verified by experts organized by the National Energy Administration on October 15, 2019.
The Jimusar National Terrestrial Shale Oil Demonstration Zone is located in the eastern Junggar Basin in northern Xinjiang. It is one of the two billion-ton large oil fields discovered by Xinjiang Oilfield Company in recent years, and the other is the Mahu conglomerate oil field. According to the plan of Xinjiang Oilfield, by 2021, the production of Jimusar shale oil will reach 1 million tons, and it will reach 2 million tons in 2025, which will stabilize production for 8 years. This will help Xinjiang ’s 50 million tons of oil and gas equivalent production and China ’s domestic oil industry. The effective and stable production of 100 million tons of crude oil is of great significance