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19

China National Petroleum Corp Confirmed Reserves

The China National Petroleum Corp, parent of PetroChina, confirmed that oil and gas reserves discovered at Bohai Bay

The China National Petroleum Corp, parent of PetroChina, confirmed that oil and gas reserves discovered at Bohai Bay total 1.02 bln metric tons of energy equivalent, making it one of the biggest discoveries in China in 40 years.

The total includes 405.07 mln metric tons of certified reserves, 298.34 mln metric tons of controllable reserves, as well as 202.17 mln metric tons of prognostic oil reserves, according to an announcement on CNPC's official website.

In addition, the discovery includes 140.1 bln cubic meters of natural gas, equivalent to 111.63 mln metric tons of oil equivalent, the company said.