Chinese state media reported that PetroChina confirmed 158M metric tons (~1.15B barrels) of shale oil reserves at its Daqing Gulong pilot project in Heilongjiang province. Covering 2,778 sq km, the site is producing 3,500 tons (~25,550 barrels) per day. The project, launched in 2022, is among China’s key pilots as national oil companies intensify shale drilling to offset declines in conventional output.
Source: Material-Car261