China Petroleum and Chemical Corporation (Sinopec) told Xinhua on Wednesday that the nation's second largest oilfield's proven oil reserve was 11.79 percent higher than previously thought to the exploration efforts made by the oilfield.
Further exploration in the field revealed that reserves in Shengli oil field were 102.03 million tonnes, 12.03 million tones more than previously thought, said Sinopec, the country's largest oil refiner.
Crude oil output at the oilfield stood at 27.708 million tonnes, 120,800 tonnes above the plan, according to Sinopec.
Shengli, located in eastern Shandong Province, is the country's second largest oilfield after the northeastern Daqing oilfield.
Statistics from Sinopec revealed that the oilfield's output in2007 accounted for two-thirds of the total crude oil production of Sinopec.
During the past 40 years, the oilfield's aggregate output of crude oil reached 907.7 million tonnes by the end of 2007.
(Xinhua News Agency January 24, 2008)
