An oilfield branch of PetroChina, China’s largest oil and gas producer, announced their discovery of a huge natural gas belt with an estimated reserve of over 1 trillion cubic meters in southwest China’s Sichuan Province.
The PetroChina Southwest Oil and Gasfield Company (SWOG) completed a successful test of prospecting for oil and gas in Tianbao Township of Daying County, which had a daily output of 1.22 million cubic meters of gas, according to the SWOG.
The belt, some 130 km away from the provincial capital of Chengdu, neighbors the gasfield in the Gaoshiti-Moxi area in the middle part of the Sichuan Basin, where the current natural gas production capacity reaches 15 billion cubic meters annually.
Based in Chengdu, SWOG supplies natural gas to more than 1,000 large and medium-sized industrial companies and more than 20 million households in southwest China.
PetroChina Southwest Oil and Gasfield Company(SWOG) is a regional comp-any of PetroChina Company Limited. It is mainly engaged in oil and gas explorat-ion and development, oil and gas gathering and transmission, marketing and logistic services business in Sichuan and Xichang Basins. In China, it is the first producer over 10 bcm of gas and the first gas producer over 10 million tons oil equivalent. Up to the end of 2009, the Company had over 34,000 contract emp-loyees, with total assets of about RMB 60 billion Yuan and annual revenue of about RMB 30 billion Yuan, ranking seventh of the top-100 revenue enterprises in Sichuan province. It has won the awards of “National Labor Award”, National “Contract-abiding and Tr-ustworthy Enterprise”, National “Excellent Enterprise with Harmonious Labor Rela-tion” and so on.
About PetroChina SWOG
Through more than 50 years hard working by Sichuan and Chongqing petrole-um professionals, the proven gas-in-place in Sichuan basin is up to 1.25 trillion cubic meters, and sum of three Preserves is about two trillion cubic meters. There are five oil and gas districts, including Chongqing, Southern Sichuan, Nor-thwestern Sichuan and Northeastern Sichuan gas districts and Central Sichuan oil and gas districts, with annual natural gas production capacity of over 15 billion cubic meters.
The company managed to form its own exploration, development and eng-ineering expertise based on the complex geology and terrain features and environment.Its customers include thousands of big and middle-scale industrial users, 120 million households and over 10 thousand utilities in six provinces in southwest and central China, namely, Sichuan, Chongqing, Yunan, Guizhou, Hunan and Hubei.
Till the end of 2009, the Company accumulated more than 292.6 billion cubic meters of gas production, accounting for about 33% of the China total. Natural gas market share rate in Sichuan Province and Chongqing is over 80%. It occupies about 14% of in-primary energy consumption, well above na-tional average of 3.8%.
From 2000 to 2009, the Company sold 108.5 billion cubic meters of natural gas, making help to regional economic and social development.
In the next period, the company will aim at building a 30 billion large strategic gas region and Chinese natural gas industry ba-se. It will promote oil & gas core business and logistic services, vigorously implement three strategies of resources, innovation and talent, continuously construct three basic management systems as HSE, internal control and corporate culture, continuously promote scientific development and further fulfill three major responsibilities of as economy, politics and society to make greater contribution to regional economic and social development and contribute to the building of a comprehensive international energy company by CNPC.
