Sinopec Makes Gas Discovery in Tarim Basin

Sinopec has made a potentially huge gas discovery in the northwestern part of Tarim basin. The discovery is estimated to hold between 700 billion and 1.5 trillion cubic meters of natural gas. Sinopec Star is currently drilling additional appraisal wells and conducting more seismic surveys to get a more accurate estimate of the natural gas reserves. Sinopec Star's major oil and gas discoveries are located throughout the Tarim basin and the East China Sea.

Sinopec recently discovered the Tahe oilfield in Tarim with proven oil reserves of 200 million tons and the Xihu Trough in the East China Sea with proven gas reserves of 80 billion cubic meters.