China's CNOOC records over 101 bcm gas reserves in Shanxi

Linxing tight gas field produced an average of more than 5mln cubic metres gas in 2020

  
The logo of China National Offshore Oil Corp (CNOOC) is pictured at its headquarters in Beijing, China April 4, 2018. Picture taken April 4, 2018.

The logo of China National Offshore Oil Corp (CNOOC) is pictured at its headquarters in Beijing, China April 4, 2018. Picture taken April 4, 2018.

REUTERS/Stringer

BEIJING - China National Offshore Oil Corp (CNOOC) has recorded proven gas geological reserves of more than 101 billion cubic metres (bcm) at Linxing gasfield in one of the country's major coal mining province Shanxi, state media Xinhua News Agency reported on Monday.

Located at the east-edge of Ordos basin, Linxing tight gas field produced an average of more than 5 million cubic metres gas in 2020.

CNOOC aims to establish annual gas production capacity of 3.3 bcm and raise annual output to 2.7 bcm at Linxing, which is managed by its coalbed methane subsidiary, within three years.

The proven reserves at Linxing were certified by the Ministry of Natural Resources, Xinhua reported.

CNOOC has vowed to accelerate the exploration and development of natural gas, including deepwater reserves in the South China Sea, shallow water resources in Bohai Bay and unconventional resources onshore.

(Reporting by Muyu Xu and Chen Aizhu; Editing by Rashmi Aich) ((muyu.xu@thomsonreuters.com; +86 10 56692117;))

More From Business