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Ma yongsheng, sinopec: only 30% and 15% of China's oil and gas resources have been discovered so far

Ma yongsheng, sinopec: only 30% and 15% of China's oil and gas resources have been discovered so far

  • Categories:Industry News
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  • Time of issue:2020-03-31 14:57
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Ma yongsheng, sinopec: only 30% and 15% of China's oil and gas resources have been discovered so far

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2020-03-31 14:57
  • Views:
Information

"China's oil and gas discoveries currently account for only 30 percent and 15 percent of the country's total resources, and there are still a lot of resources to be discovered."Ma yongsheng, general manager of China petrochemical corporation and deputy secretary of the party committee and an academician of the Chinese academy of engineering, made the remarks at an open class on state-owned enterprises at sichuan university on June 11.

 

How many oil and gas resources are there in China?

 

In July 2018, China's ministry of natural resources released the notice on the exploration and exploitation of national oil and gas resources (2017), which released the latest information on domestic oil and gas resources.By the end of 2017, China's proven reserves totaled 38.965 billion tons, remaining technically recoverable reserves totaled 3.542 billion tons and remaining economically recoverable reserves totaled 2.533 billion tons, according to the circular.

 

By the end of 2017, China had a total proved natural gas reserves of 14.22 trillion cubic meters, remaining technically recoverable reserves of 5.52 trillion cubic meters, and remaining economically recoverable reserves of 3.91 trillion cubic meters.

 

By the end of 2017, China had 1,009 proven oil and gas fields.Among them, 734 oil fields and 275 gas fields.China produced 6.767 billion tons of petroleum and 1.94 trillion cubic meters of natural gas.

 

Ma yongsheng believes that although China's increasing oil and gas dependence on the outside world poses challenges to energy security, China's oil and gas resources are generally rich and there is a good resource base to improve China's energy independence guarantee capacity.

 

Ma yongsheng said that China's petroleum and petrochemical industry is still a sunrise industry rather than a sunset industry.Judging the energy pattern, he believes that clean, low-carbon and diversified energy is the main trend of future energy development, and the global energy in the future will gradually transform from the current "three pillars" of coal, oil and gas to "four competition" of oil, gas, coal and non-fossil.By 2035, China will transform its current coal-dominated energy structure into a three-way world of coal, oil and gas, and non-fossil fuels.By 2050, fossil fuels will still be the main source of energy consumption, accounting for about 70 percent, with oil and gas accounting for more than 50 percent and coal less than 20 percent.

 

Mr Ma's comments seem to offer comfort to China's energy insecurities, but the country's high dependence on oil and gas remains a fact of life for its energy sector.

 

At the 16th Shanghai derivatives market BBS held from May 27 to 29, fu chengyu, former chairman of sinopec and cnooc group, said that China's energy security problem should be solved by itself and the problem and risk should be minimized.

 

In fu chengyu's view, there are two ways to deal with energy security: first, prepare for short-term oil supply interruption, and increase foreign cooperation, innovate cooperation mode and reserve mode through market means to avoid short-term risks.Second, strategically and in the long run, China will be basically self-sufficient in energy resources within 10-15 years from now, that is to say, over 80% of its energy will be supplied by itself.Fu chengyu suggested that this goal should be formally formulated as a national strategy, and China has the foundation and conditions to achieve it.

 

Specifically, China can work in three areas: first, accelerate the development of renewable energy, including the development of electric cars, to minimize the consumption of oil in the power transport system.Second, we will vigorously develop shale gas.The cost of shale gas in China has been greatly reduced in recent years, and the government is expected to combine institutional and market advantages in this regard.The reason is that the government's direct management efficiency is too low, but it is completely market-oriented, and it has no institutional advantages.Third, in the clean coal system, China has made significant technological progress, and ultra-supercritical coal for power generation is comparable to natural gas.

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