Home | News    Friday 25 July 2003

China CNPC Discovers 2B Bbl Oil Reserves In Sudan-Report

separation
increase
decrease
separation
separation

By Xu Yihe

SINGAPORE, July 25, 2003 (Dow Jones) — China National Petroleum Corp., China’s largest oil and gas company, has discovered 2 billion barrels of crude oil reserves in Sudan’s Malut basin, boosting the company’s crude reserves in the African country, China Petroleum News reported.

Of the total reserves discovered, 600 million barrels are recoverable, said the CNPC-sponsored newspaper.

The discovery was made at Blocks 3 and 7, near the Palogue structure, in which CNPC holds a 41% stake. The remaining stakes are held by Qatari Gulf Petroleum Co. and two Sudanese companies.

The company plans to develop the two blocks by March 2005 into a medium-sized field, with an annual production capacity of 8 million tons, the report said.

When the two blocks start production in 2005, CNPC expects to raise its crude production in Sudan to 24 million tons/year from 12.68 million tons last year. CNPC’s 2003 crude production in Sudan is forecast at 14 million tons.

Sudan is CNPC’s largest overseas oil and gas operation. The company is involved in oil and gas E&P in Block 1/2/4 and Blocks 3, 7, 6 in Sudan .

CNPC has drilled nine exploration wells at Blocks 3 and 7, which cover a total of 72,000 square kilometers. All the wells have demonstrated hydrocarbon presence, the report said.

One of the wells, Palogue 1, was tested to flow 5,100 bbl/day in October last year and 2,250 bbl/day in January this year, the report said.

According to the report, exploration at Blocks 3 and 7 started in 1975, when ChevronTexaco Corp. (CVX) discovered 168 million bbl of crude reserves. ChevronTexaco didn’t develop the reserves due to its small scale.

The report said the finding cost at Blocks 3 and 7 is less than 22 cents/bbl, or about 20% of the international average.

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.



Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Sudan’s uprising is putting the future of al-Bashir’s rule at stake 2019-01-18 01:30:38 By Adil Babikir The buzzword in Sudan these days is tasgut bass. The catchphrase, which translates into “you must go, no matter what”, is echoing in demonstrations across the country calling on (...)

Al-Bashir’s pickaxe underlies economic downfall in Sudan 2019-01-07 19:49:21 By Mahmoud A. Suleiman The destructive pickaxe of Omer Hassan Ahmed al-Bashir and his Corrupt Entourage for the three decades are responsible for the Economic Downfall in Sudan and Not due to (...)

The Sudanese Tsunami 2019-01-07 08:01:14 The Only Way Forward is for Bashir to Step Down and a New Interim Democratic Arrangement Put in Place By Yasir Arman On Sunday, 6th of January, Sudan has witnessed one of the biggest (...)


MORE






Latest Press Releases


Ethnic Murle politicians say enough to cattle raiding 2018-12-28 09:32:00 December 27, 2018 (JUBA) - Murle political leaders in Buma state have vowed to end the practice of cattle raiding and child abduction by individuals in the community. Jodi Jonglei, who is also (...)

CEPO: South Sudan Opposition Alliance (SSOA): Stop politics of split and focus on R-ARCSS implementation 2018-12-26 09:53:29 26th December, 2018. South Sudan Opposition Alliance internal leadership change frication is disturbing and demoralizing public opinion. The big question CEPO is raising, will SSOA be a strong (...)

Progress observed at end of second month of R-ARCSS implementation 2018-10-22 06:44:02 Press Release 21 October 2018 South Sudanese government released 24 detainees in the implementation of the revitalized peace agreement said the International Committee of the Red Cross (ICRC) (...)


MORE

Copyright © 2003-2019 SudanTribune - All rights reserved.