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CNPC makes 700 mmbbl tight oil discovery in China
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China's CNPC has made a 100 million tonne (737 million barrel) tight oil discovery in Ordos Basin, Shaanxi province, called the Xin'anbian field. This new play opens up significant unconventional resource potential in the region. However, as with any tight oil operation, the NOC will first have to improve on current reservoir performance and well costs before ramping up drilling activity. Accessing large-scale and low-cost water supplies in this remote and arid basin will also be a challenge.
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