China's Changqing Oilfield announced on the 1st that after two years of exploration, PetroChina Changqing Oilfield has discovered a large oilfield with geological reserves of over 100 million tons in the Hongde area of Huanxian County, Gansu Province, opening up a new field of oil exploration and development in the western part of the Ordos Basin
Since June 2021, Changqing Oilfield has used three-dimensional seismic technology to cover a large area to support and guide, oil exploration, and once again deploy the Hongde area to find structural oil reservoirs, and has obtained high-yield industrial oil flow in 23 exploration wells in two years, of which three wells have a daily oil production of more than 100 tons, and up to now, Changqing Oilfield has submitted 50.24 million tons of proven oil reserves in this area. Oil reserves are forecast at 56.2 million tons.