The Sinopec Chinese oil company reported that it discovered a total of 180 million tons (1.3 billion barrels) of shale oil reserves at two separate deposits in the east of the country.
The company said that the new shale oil reserves were found at the shinning deposit in the Bohai basin and at the Chinton in the Subya basin.
Slantsy oil strata in the shinsing are located at a depth of 2,900 meters, and in Chinong – in layers from 3 430 to 4,560 meters.
The company predicts that these deposits will provide long -term and stable production using one drill well.
sinopec intends to find 100 million tons of new reserves per year
The company intends to find 100 million tons of new shale oil reserves annually from 2026 to 2030, while production should be 2 million tons per day.
Last year, the company mined 705 thousand tons of shale oil.
Despite the presence of large reserves, shale oil is the most complex and expensively expensive oil resource.
Slantsy oil accounts for only 1 percent of the total oil production in China.