China has identified newly proven oil equivalent reserves of 55.56 million tons in the Tarim Basin, located in the Xinjiang Uygur autonomous region, the China Geological Survey said Wednesday.
The discovery was made through joint research conducted by the China Geological Survey, a division under the Ministry of Natural Resources, in partnership with the Xinjiang geological bureau, China National Petroleum Corporation, Sinopec, and other companies operating in the region. The teams uncovered high-yield industrial oil and gas flows in the Kopin Fault Block area, confirming geological reserves of 55.56 million tons of oil equivalent.
In addition, a 180-kilometer oil- and gas-rich zone has been identified. The area has attracted investment from nine enterprises totaling more than 6 billion yuan ($818 million) and is being developed into a production base with an annual capacity of one million tons of oil and gas, according to the CGS.
The Kopin Fault Block is situated at the junction of the basin and mountains on the northwestern edge of the Tarim Basin. It forms part of the central and western basin-mountain junctions of China, which are estimated to hold about 19 billion tons of oil equivalent, underscoring significant resource potential, the CGS said.
Spanning approximately 20,000 square kilometers, the Kopin Fault Block has been designated as a key oil and gas resource base, playing a crucial role in Xinjiang's energy supply chain.
