Published by: THE WORLD UYGHUR NETWORK NEWS May 20, 1997
Beijing Xinhua, 05/07/97
Urumqi, May 8 (XINHUA) -- Junggar Basin in northwest China's Xinjiang
Uygur Autonomous Region is expected to verify 600 million tons of oil
reserves and produce an annual crude output of 10 million tons by the
end of the century.
In addition, it will develop an annual gas output of three billion cu m
by the year 2000, according to a local source. The Junggar Basin,
located in the northern part of Xinjiang, is very rich in oil and gas
reserves. Both Chinese and foreign experts estimate that the basin has
geological oil and gas reserves totaling 6.9 billion tons and 1.24
trillion cu m, respectively.
Oil exploration in the basin started in the 1950s. The KaraMay Oil
Field -- the country's first big oil field was found here. So far,
more than 20 oil and gas fields have been developed, 16 operational.
The basin turned out 8.3 million tons of crude last year, ranking first
among the three great basins in the autonomous region.
The Junggar Basin has huge potential to tap in terms of oil and gas
production and verification. Experts held that the cumulative proven
oil reserves in the basin will total three billion tons by 2005. In
addition, its annual oil and gas output will exceed 15 million tons and
three billion cu m, respectively, by that time.
