13-06-08 Sinopec said it added 100 mm tons to its domestic crude-oil reserves.
The reserves at YQ5 well in Qixi district in the western province of Xinjiang will help meet Tahe field's annual output target of 10 mm tons by 2010, China Petrochemical Corp. said.

Sinopec is speeding up exploration to boost oil supplies to an economy that expanded by 11.4 % in 2007, the fastest pace in 13 years. Block 12 at Tahe, Sinopec's second-largest field, holds geological reserves of as much as 200 mm tons of oil equivalent, the company said in May last year.
"The 100 mm tons can only be geological reserves, of which less than 25 % can be exploited," Qiu Xiaofeng, an oil analyst with China Merchants Securities, said. "But this is still a substantial discovery and fairly good news for Sinopec."