PetroChina says it has added 1.15 billion barrels to its shale oil reserves at a pilot project.

PetroChina proved another 158 millions metric tons of shale-oil reserves, or approximately 1.15 billion barrels in a northeast China pilot project, Chinese state media reported Friday.

State television reported that the Daqing project in Heilongjiang Province, northeast China, covers an area of 2,778 sq km and pumps 3,500 tons or 25,550 barrels per day.

The project began testing production in 2022 and is one of several pilot shale-oil projects being undertaken by national oil companies to increase drilling for hydrocarbons that are harder to develop in order stop the decline in domestic oil production.

State TV said that the growing reserve at Gulong will boost PetroChina's production of shale oils to more than 6,8 million tons (136,000 barrels each day) this year.

Chen Lin, a Beijing-based analyst at Rystad Energy, said that PetroChina produced approximately 5 million tonnes of shale crude oil in 2013. This was mainly from the Qingcheng project in the northern Ordos Basin and Jimsar in northwestern Junggar Basin. (Reporting and editing by Toby Chopra; Chen Aizhu)

(source: Reuters)