Sinopec has discovered proven reserves of about 92.1 billion-cubic-meters of natural gas in Southwest China’s Sichuan province, Xinhua News Agency reported.
It is estimated the new reserve is able to support an annual output of 2 billion-cubic-meters of natural gas annually, equal to the gas consumption of 10 million households in a year.
Next, Sinopec Sichuan Branches will beef up natural gas exploration, and are expected to find at least another 20 billion cubic meters in 2019.
The new gas reserves are mainly in fields in Yuanba, Zhongjiang and Dayi, among which, Yuanba boasts around 40.8 billion-cubic-meters of gas buried 3,000 to 5,000 meters underground.
Executive Director and General Manager of Sinopec’s Southeast Bureau Gan Zhenwei said the newly-proven reserve illustrates the fields are rich in natural gas resources and have huge exploration potential.
Sichuan province is believed to be rich in natural gas. So far, Sichuan branches of Sinopec have 1.2 trillion cubic meters of proven natural gas reserves. Every year, they are capable of producing 12 billion-cubic-meters of natural gas, and selling 540 million tons of petroleum products.