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Major oil field found in north China

(Xinhua)
Updated: 2009-03-01 08:55

HOHHOT  -- An oil field with reserves of about 100 million tonnes has been found in Siziwang Banner in north China's Inner Mongolia Autonomous Region, where the Shenzhou-7 space module landed last year.

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Experts said the oil field has workable reserves of 35 million to 40 million tonnes.

The Siziwang Banner government will invest 20 million yuan (2.9 million U.S. dollars) in the first half of this year to set up five exploratory shafts for further exploration.

The government is expected to invest 200 million yuan to set up 100 oil-wells by the end of 2010. The oil field is expected to produce 500 tonnes of oil daily and 150,000 tonnes a year then.