Oil and gas exploration in China has made great progress in the past 5 years from 1996 to 2000. In eastern China, oil reserves have been increased by extensive exploration in mature exploration basins, with enough discoveries to maintain stable oil production over the past 5 years. In western China, many new large oil-gas fields have been discovered in new plays, which have rapidly increased both oil reserves and production. In the case of gas exploration in west China, several giant gasfields discovered in the Tarim, Ordos and Sichuan basins have doubled gas reserves over the past 5 years. In the Bohai bay area, several new giant oilfields have been discovered in new sequences, and the Bohai bay area will become an important oil production base in the next few years. The future exploration frontiers are foreland basins and new sequences of cratonic basins in western China, deep sequences and subtle traps in eastern Chinese basins, and the offshore area of Bohai Bay. It is estimated that the increasing trend of oil reserves seen during past 5 years will continue through 2015. Oil production in China will keep growing over the next 15 years, and gas reserves are expected to expand rapidly. Domestic production of oil will meet over 60% of domestic demand in China, and gas production and supply will fully meet domestic demand over the next 15 years.


China is an oil-productive country. The annual oil production of China was 1.6×108 tons in 2000, which ranks fifth in the world. Meanwhile, China is also an oil consuming country, consuming 2.1×108 tons of oil in 2000, of which about 6.0×107 tons were imported from other countries.

When analyzing the oil-gas supply-demand situation in China for the future 5~10 years is helpful to know the Asian-Pacific petroleum supply-demand trends for the next 10 years. It is predicted that future oil-gas demand in China will be further increased. Based on predictions and analysis of oil and gas resource potential, distribution and favorable exploration targets, various authors have gained detailed insight into the oil and gas supply and demand situation in China over the next 10 years. 1. From 1996 to 2000, Chinese petroleum exploration been significantly stepped up. To meet the New Advances in Oil-Gas new exploration challenges, comprehensive research methods and advanced exploration Exploration in technology have been deployed, resulting in the constant discovery of new large-scale oil-gas fields China such as PL19-3, QHD32-6, Kela-2, Ansai and so forth. Recoverable reserves in China have increased to about 8.0×108 tons of oil and 6.0×1011m3 of gas in the five years from 1996 to 2000, guaranteeing a sustainable increase of domestic oil-gas production. As of 2000, the cumulative

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