BEIJING, Feb. 27 (Xinhua) -- China’s top three oil giants have been strengthening domestic oil and gas exploration and development with major breakthrough achieved, according to a report by Shanghai Securities News on Tuesday.
China National Offshore Oil Corporation (CNOOC), for example, announced Monday that it discovered a gas field with proven natural gas reserves of more than 100 billion cubic meters, the largest discovery in the Bohai bay basin for the last 50 years.
The newly discovered large gas reserve is enough for consumption by city with one million residents for up to hundreds of years, which could greatly enhance gas supply capacity for northern China regions, according to CNOOC deputy manager Yuan Guangyu.
Also on Monday, China Petrochemical Corporation (Sinopec Group) announced its Shunbei oil and gas field made the deepest onshore drilling record in Asia of 8,588 meters, signaling that China has mastered world-class advanced ultra-deep well drilling technology.
In the meantime, the report learned from China National Petroleum Corporation (CNPC) that its first natural gas hydrate experimental platform has been approved and has been in smooth operation for two months which is helpful for advancing the trial production and commercial development of natural gas hydrates in China's sea areas.
Oil and gas exploration and development is strategic deployment, said professor Liu Yijun with China University of Petroleum, noting that oil giants are making efforts for improving the country’s oil and gas resource potential as well as increasing their own competitiveness in the global market for the long run. (Edited by Niu Huizhe, firstname.lastname@example.org)