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PetroChina's Tarim unit spots fracture zone with over 200 mln T oil reserves

Reuters
·1-min read

BEIJING (Reuters) - PetroChina's <601857.SS><0857.HK> Tarim unit had discovered a new fracture zone with petroleum reserves of 228 million tonnes, China's official Xinhua news agency cited the company's general manager as saying.

The discovery brought favourable new exploration areas of 3,520 square kilometres, the company said.

"This is a major breakthrough after we conquered the impact of the coronavirus," said PetroChina, adding that its Tarim unit had fully resumed production.

The company based in northwestern China pumped out 624 cubic metres of crude oil per day and 371,000 cubic metres of natural gas after production testing on Wednesday, PetroChina said in a statement on its website.

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The Tarim unit operates the third-biggest onshore oil and gas field in China. It aims to produce 30 million tonnes of oil equivalent in 2020.

(Reporting by Min Zhang and Aizhu Chen; editing by Jason Neely)