Recently, a new 1 billion ton oil field was discovered in Ordos. Last weekend, PetroChina Changqing Oilfield Company announced that it has passed the final review of the Ministry of natural resources of the people's Republic of China in the 1 billion ton Qingcheng oil field, and will build an annual production capacity of 3 million tons in the future.

Changqing Oilfield Company said that the newly proved reserves of the unconventional reservoirs in chang7 source named Qingcheng oilfield are 358 million tons, the predicted reserves are 693 million tons, and the reserves scale of 1 billion tons has been formed, and the production capacity of 1 million tons of crude oil has been built in the old revolutionary base area of Qingyang, Gansu Province. In the next three to four years, the production capacity of 3 million tons will be built.

"This is another major achievement of China's leading exploration and development technology for ultra-low permeability reservoirs," said experts The major breakthrough of exploration in Longdong area of Changqing Oilfield is due to the continuous innovation of geological theory of petroleum exploration, 3D seismic and imaging logging technology in Ordos Basin, and the breakthrough of core technology of horizontal well drilling and hydraulic sand fracturing

Changqing Oilfield Company is a regional branch of PetroChina, headquartered in Xi'an City, Shaanxi Province. It is mainly engaged in the exploration, development, production, storage, transportation and sales of oil and gas and associated resources in Ordos Basin. Its working area covers 61 counties (districts and banners) of 15 cities in 5 provinces (districts) of Shaanxi, Gansu, Ningxia, Inner Mongolia and Shanxi, with an exploration and development area of 200000 square kilometers.

In 2013, the oil and gas equivalent of Changqing Oilfield exceeded 50 million tons, and the largest oil and gas field in China was built. In 2014, the oil and gas equivalent exceeded 55 million tons, and in 2015, the oil and gas equivalent reached 54.66 million tons, including 24.808 million tons of crude oil and 37.46 billion cubic meters of natural gas, achieving stable production of more than 50 million tons of oil and gas equivalent for three consecutive years.