11-08-05 The Sinopec Shengli Oilfield Corporation will begin the exploration of an oilfield with oil reserve of 10.05 mm tons in Yangxing County in north Shandong Province, a part of the Shengli Oilfield, the country's second largest.
The oilfield within the city of Bingzhou produced 21.8 tons of oil and 12,656 cm natural gas on a daily basis during the trial operation launched in February.

Sinopec will spend RMB 170 mm ($ 20.96 mm) in the exploration. The oilfield measures 8.4 sq km.
Bingzhou owns a fifth of the total oil reserves of the Shengli Oilfield, Liu Yanguo, the spokesman for Shengli told. With the main production areas of Shengli Oilfield starting to deplete, the operator has sought to boost exploration in outlying areas.