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PetroChina Announces More Reserves Than Expected

The proven reserves are certified at 445 million tons oil equivalent

PetroChina's largest oil discovery in a decade boasts more reserves than estimated.

Jidong Nanpu Oilfield in the Bohai Bay has combined proven, probable and possible reserves of as much as 1.18 billion tons of oil equivalent, the Ministry of Land and Resources of China certified yesterday.


The proven reserves are certified at 445 million tons oil equivalent.

PetroChina originally estimated Nanpu's three-level reserves to be around 1 billion tons of oil equivalent, with proven reserves in place reaching 405 million tons.