CNPC Makes Natural Gas Find In Sichuan Basin

A unit of Chinese state-owned China National Petroleum Corp., Southwestern Oil and Gas Co., has found natural gas in the northeastern region of gas-rich Sichuan Basin, CNPC said.

Tests at exploration well Qilibei-1, within the Qilibei structure, showed daily gas flows of 800,000 cubic meters.

The company said it hopes the Qilibei structure has the potential to be developed into a major gas field.

Gas reserves at Qilibei are estimated at 35 billion cubic meters.

Qilibei is located next to Luojiazhai, a big gas field under the management of CNPC's listed unit, PetroChina Co.

Proven reserves at Luojiazhai are over 58 billion cubic meters. Daily gas output at test wells Luojia-11H and Luojia-16H-1 are 3 million cubic meters and 2.6 million cubic meters, respectively.