PetroChina taps mega oil reserve in Xinjiang

The Xinjiang branch of PetroChina has accelerated exploitation of the Mahu Oilfield in the Junggar Basin, in the northwestern Xinjiang Uygur Autonomous Region.

The mega oilfield, which was ascertained in late 2017, has a proven oil reserve exceeding one billion tonnes.

The company said the Mahu Oilfield now produces nearly 6,000 tonnes of crude oil per day, and is expected to achieve an annual production of 2.18 million tonnes of crude oil this year.

As of the end of May, a total of 79 crude oil wells in the oilfield had been put into operation, with an aggregate output of 4.85 million tonnes, according to Han Junwei with the company's reservoir evaluation department.

The annual production of the Mahu Oilfield is expected to reach 5 million tonnes in 2025.