China National Offshore Oil Corp (CNOOC) announced on October 23 the remarkable discovery of its first deep coalbed methane (CBM) field with proved geological reserves exceeding 110 billion cubic meters, a further contribution to the country's unconventional oil and gas reserves and production.
Situated in Yulin, Shaanxi province, the newly uncovered Shenfu deep CBM field at the eastern edge of the Ordos Basin boasts proven geological reserves exceeding a staggering 110 billion cubic meters, it said.
CBM is a form of natural gas concealed within coal seams, with those found at depths surpassing 1,500 meters referring to deep CBM. China is renowned for its abundant CBM resources, with reserves at depths within 2,000 meters exceeding 30 trillion cubic meters, and deep CBM alone accounting for approximately one-third of this vast reserve, according to CNOOC.
Xu Changgui, deputy chief exploration engineer of the company, said the unveiling of the deep CBM field serves as a beacon of hope for similar basins and will undoubtedly bolster the expansion of our unconventional oil and gas exploration and development in the eastern edge of the Ordos Basin.
The Shenfu deep CBM is the second 100-cubic-meter-scale gas field discovered by CNOOC after Linxing gas field in Shanxi province.
(Writing by Emma Yang Editing by Harry Huo)
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