Eric Watkins
Senior Correspondent
LOS ANGELES, Apr. 7 -- China's Ministry of Land and Resources has set a goal of discovering 10 medium-sized domestic oil fields and 8-10 major natural gas fields by 2010 in order to enhance the country's energy security.
The ministry, in its first national geological exploration blueprint, specified that the oil fields should each have at least 100 million tonnes of reserves, while the gas fields will each have at least 0.1 trillion cu m of reserves.
In its 5-year plan, covering 2006-10, the ministry said it wanted to add 4.5-5 billion tonnes of proved oil reserves and 2.5-2.8 trillion cu m of gas reserves. This would be up from the 4.42 billion tonnes of oil and 2.6 trillion cu m of gas achieved in 2001-05.
Contact Eric Watkins at [email protected].
