China has a diverse and evolving history in oil and gas production, marked by significant developments and strategic shifts over the decades. The country's modern oil industry began in the late 19th century, primarily in the northeast region. The discovery of the Daqing oil field in the 1950s, one of the largest onshore fields globally, marked a pivotal moment, propelling China into a prominent position in oil production.
Today, China is the world's second-largest consumer of oil and a significant producer, with both onshore and offshore fields contributing to its output. Major onshore fields include Daqing, Shengli, and Changqing, which collectively account for a significant portion of China's domestic production. Offshore, the Bohai Bay and South China Sea fields are crucial, with increasing exploration and production activities in deep waters.
State-owned enterprises dominate China's oil and gas sector, with China National Petroleum Corporation (CNPC), China Petrochemical Corporation (Sinopec), and China National Offshore Oil Corporation (CNOOC) being key players. These companies manage exploration, production, refining, and distribution, often in partnership with international firms to leverage technological expertise and investment.
China's oil and gas reserves have been a subject of continuous exploration and development. While exact figures vary, substantial reserves remain, particularly in newer offshore and unconventional fields. Extraction rates have risen significantly over the years, driven by technological advancements and increased demand.
China's oil and gas exports are relatively modest compared to its consumption levels, with significant imports to meet domestic demand. The country's oil exports mainly consist of refined products, while natural gas exports are limited. Revenue from oil exports forms a notable part of China's economic output, fluctuating with global oil prices and domestic production levels.
Overall, China's oil and gas sector continues to evolve, balancing domestic needs with environmental concerns and international market dynamics. Strategic investments in renewable energy alongside continued development of conventional resources reflect China's broader energy policy goals, aiming for energy security and sustainability in a global context.
Field Acronyms
EUR_MMBOE = Estimated ultimate recovery in million barrels of oil equivalent
Giant oil and gas fields = those with 500 million barrels (79,000,000 m3) of ultimately recoverable oil or gas equivalent.
Super giant oil field = holds equivalent of 5.5bn barrels of oil reserves.
Chunxiao Field, Discovered 1995, Giant Field
Dabei Field, Discovered 2006, Giant Field
Dagang Complex Field, Discovered 1966, Giant Field
Daniudi Field, Discovered 1999, Giant Field
Dina Field, Discovered 2001, Giant Field
Dongfang Field, Discovered 1992, Giant Field
Gudao Field, Discovered 1968, Giant Field
Gudong Field, Discovered 1984, Giant Field
Haituozi Field, Discovered 1982, Giant Field
Huangkuanshan Field, Discovered 1955, Giant Field
Jianghan Field, Discovered 1966, Giant Field
Jidong Nanpu Field, Discovered 2007, Giant Field
Jingbian-Hengshan Field, Discovered 1985, Giant Field
Jinzhou 25-1 Field, Discovered 2008, Giant Field
Karamay Complex Field, Discovered 1963, Supergiant Field
Kela Field, Discovered 1998, Giant Field
Laochunmiao Field, Discovered 1938, Giant Field
Leng-hu Field, Discovered 1958, Giant Field
Liaohe Complex Field, Discovered 1958, Giant Field
Liwan 3-1-1 Field, Discovered 2006, Giant Field
Lung-nu-ssu Field, Discovered 1956, Giant Field
Peng Lai Field, Discovered 1999, Giant Field
Puguangsi Field, Discovered 2003, Giant Field
Qingshen Field, Discovered 2005, Giant Field
Renqiu Field, Discovered 1975, Giant Field
Saertu Field, Discovered 1960, Supergiant Field
Shengtuo Field, Discovered 1964, Giant Field
Shiyoukou - Tungchi Field, Discovered 1955, Giant Field
Sulige Field, Discovered 2000, Giant Field
Taking [Taching] Field, Discovered 1959, Giant Field
Tazhong Field, Discovered 1989, Giant Field
Tazhong-82 Field, Discovered 2005, Giant Field
Xifeng Field, Discovered 2003, Giant Field
Xingshugang Field, Discovered 1960, Giant Field
Yacheng Field, Discovered 1983, Giant Field
Yilake Field, Discovered 2003, Giant Field
Zhongyuan Field, Discovered 1975, Giant Field