CHINA EYES CHALLENGES IN REMOTE TARIM BASIN

China National Petroleum Corp.'s key oil and gas strike at 1 Tazhong in the Tarim basin of Northwest China presents the country with major challenges. The discovery, on China's largest known subsurface structure, caps a long history of exploration in the remote Tarim basin. Chinese geologists believe Tarim basin reserves may be 74 billion bbl of oil and 282 tcf of gas, respectively one seventh and one quarter of the national total.

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