A Ministry of Land and Resources official told a seminar on December 11 that proven oil reserves should mean sustainable growth for China's domestic output for at least 15 years, reaching 200 million tons in 2010.
According to Chinanews.com.cn yesterday, Che Changbo, deputy director of the ministry's Oil and Gas Resources Research Center, said that 129 basins in the country were covered by a nationwide gas and oil resources appraisal program, 115 of which are believed to have reserves that should be exploitable in the near future.
Domestic gas output was predicted to reach 90 to 110 billion cubic meters in 2010 and 150 to 170 billion cubic meters in 2020.
Che said domestic demand for oil was expected to be 380 million tons in 2010. At that time, domestic oil output was projected to be 200 million tons and oil imports 170 million tons. The 10 million ton-shortfall would need to be substituted with alcohol, gas and other energy sources.
In 2020, domestic demand for oil could reach 450 million tons, 220 million tons of which Che said could be supplied domestically, 200 million tons imported and 30 million tons substituted. This would mean over 50 percent of oil would still be from domestic supplies.
Che estimated that domestic output of oil this year would reach 183 million tons and of gas 50 billion cubic meters.
(China.org.cn by Wang Ke, December 14, 2005)
