Sinopec Flows Oil, Gas at Shunbei Field
Chinese state-run Sinopec on March 15 said it had flowed oil and natural gas from its 42X well at the Shunbei oil and gas field in the Tarim basin.
The well flowed 822,000 ft3/day of gas and 300 metric tons/day of oil. The company said it was a "major breakthrough" in the field’s exploration. The initial estimates suggest that the deposit could be 100mn metric tons of oil equivalent in size.
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Sinopec said that in the next five years, it will carry out “large-scale” operations at Shunbei and plans to produce 10mn metric tons of oil equivalent annually at the site by 2022. The Tarim basin is located in northwest China's Xinjiang region.