Qiangtang Basin in Tibet estimated to hold oil and gas reserves

Oct 25, 2004 02:00 AM

A large quantity of oil and gas resources are thought to be buried in the Qiangtang Basin in western China's remote Tibet Autonomous Region, where a new oil and gas industrial base is likely to be developed.
The 160,000 sq km Qiangtang Basin is one of the less developed basins in China. But its structures and the surrounding natural conditions, similar to those of oilfields around the Caspian Sea and the Middle East, indicate the presence of fossil fuel reserves.

So far, a 100 km long oil belt has been discovered in the south of the basin. There is the likelihood that in the middle of the basin, light crude oil may be found.
Earlier research by the Ministry of Land and Resources in the area has shown that there might be gas hydrate, or "combustible ice" reserves.

China has witnessed major shortages in crude oil and electricity supply in recent years, and has placed great hope in the utilization of gas hydrate, a promising new form of energy, to relieve the domestic crisis.
Domestic experts commonly believe that the potential energy value contained in the gas hydrate resources in the South China Sea could be equivalent to half of China's total oil resources.

Source: Interfax-China
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