Daqing Oil & Gas makes discovery in China's Hailaer Basin

Nov 28, 2002 01:00 AM

Daqing Oil & Gas reported that it has made a major oilfield discovery in the northern China Hailaer Basin. The Bei-16 discovery well was drilled to a total depth of 5,906 ft (1,800 meters) and encountered oil-bearing sands some 636 ft thick.

Daqing, a subsidiary of PetroChina, said the discovery well, located in the Beier Trough, flowed at a rate of 894 bpd from reserves estimated at 163 mm barrel of oil in place. The company is now proceeding with additional exploration and appraisal wells to increase the field's reserves to approximately 710 mm barrel so that it becomes feasible to develop a field capable of producing about 20,000 bpd.
Daqing discovered another oil pool in the Hailaer Basin last year with about 92.3 mm barrel in reserves.

Source: OGI
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