Sinopec's Longfengshan Block in Changling County Has Proven Gas Reserves of 16. 5 Bcm

Sinopec Corp. has proven 16.5 billion cubic meters (bcm) of natural gas reserves and 3.64 million tonnes of condensate oil on the Longfengshan block in Changling County, northeast China's Jilin province, Xinhua Finance Agency reported citing Changling Economics and Technology Cooperation Bureau.

Sinopec plans to boost the block's natural gas output capacity to 410 million cubic meters per year and crude oil output capacity to 40,000 tonnes per year, Xinhua Finance said.

The Chinese state owned energy major has commenced drilling work of nine wells, six of which has been completed and one has come on stream, producing 33,000 cubic meters of natural gas and 10 tonnes of crude oil daily.

According to Xinhua Finance, Sinopec plans to drill another 18 wells, including 15 development wells and 3 exploration wells, build a gas processing facility and a 26km gas pipeline in 2015.