Petrochina To Form Oil And Gas Reserve Zones In China

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Petrochina To Form Oil And Gas Reserve Zones In China

Published: 27-Apr-2009

By: Staff Writer Staff Writer Staff Writer

China National Petroleum Corporation (CNPC), the parent company of PetroChina Company Ltd. (PetroChina) will form many oil and gas reserve zones each with a size of 500-1,000 million tons in China, based on 2008 exploration results. In 2008, PetroChina discovered 740 million tons of proven oil reserves and 410 billion cubic meters of natural gas geological reserves.

Zhou Jiping, vice president of CNPC said the newly added reserves mainly originate in Ordos and Sulige of north China's Inner Mongolia, and Juggar and Tarim of northwest China's Xinjiang.

The country has enjoyed oil production growth for seven straight years, and its natural gas output has maintained double-digital growth for six consecutive years, Zhou added.

CNPC has been looking for overseas assets for securing domestic demand as of late. By the end of 2008, the oil firm carried oil and gas assets in 29 countries, involving 75 ongoing projects, which contributed more than 30 million tons of oil and 4.6 billion cubic meters of natural gas to CNPC.

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Petrochina To Form Oil And Gas Reserve Zones In China

Published: 27-Apr-2009

By: Staff Writer Staff Writer Staff Writer

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Welaptega Marine has saved a Gulf of Mexico-based offshore driller millions of dollars through a pioneering technology to recertify mooring systems on semi-submersible drill rigs (MODUs) while they are on station.

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Watson, Farley & Williams ("WFW"), a leading international law firm, is pleased to announce that it will be opening an office in Madrid, in response to an increasing demand from clients for access to Spain. This will be WFW's 12th office, and Spain is the firm's 9th jurisdiction.

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