[Repost] Major Energy Discoveries in the World in 2007: Major Discoveries in China:

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Major domestic discovery: On March 12, the “Cangxi Structure” in Sichuan represented a new discovery of integrated marine gas fields in China. Well Yuan-1 is the core well in the \"Cangxi Structure\" and has been designated as Sinopec’s top drilling project; its drilling and development hold great prospects for growth. The comprehensive processing, interpretation, and evaluation of seismic data indicate that the \"Cangxi structure\" is a gas-bearing trap with exploration potential, and its predicted natural gas reserves are much larger than those of the Puguang gas field – the largest and most abundant large-scale marine gas field discovered in China to date. The Dazhou giant natural gas field in Sichuan has resource reserves of 3.8×108 m3, with proven exploitable reserves exceeding 60×1010 m3; the Guang’an natural gas field in Sichuan has theoretical reserves of 60×1010 m3, and its proven exploitable natural gas reserves amount to 1,000×108 m3, making it a super-large integrated gas field in China. On May 1, after 9 years of effort and with a total investment of 500 million yuan, China successfully extracted physical samples of natural gas hydrates, also known as \"flammable ice\", in the northern South China Sea. This made China the fourth country, after the United States, Japan, and India, to obtain physical samples of hydrates through such research and development programs. The successful first sampling in the northern South China Sea confirmed the abundance of natural gas hydrate resources there, marking a significant advancement in China’s research and investigation capabilities in this field to the world’s leading level. On May 3, CNPC announced the discovery of a large oil field in the tidal flat area of the Bohai Bay, the Jidongnanbao Oil Field, with reserves amounting to 10×108 tons. This oil field located off the coast of northeastern China is the largest oil discovery in the country over the past 10 years. On May 30, Sinopec Group announced that its subsidiary, Sinopec Corporation (Sinopec), had discovered new geological reserves of crude oil amounting to (1.4–2)×10^8 tons in Block 12 of the Tahe Oil Field in Xinjiang. Analysts predict that this could increase Sinopec’s total crude oil reserves by 15%, while its net asset value might rise by around 5% as a result. Major international discovery: On March 1, Norwegian company Equinor discovered large oil reserves in Libya’s Murzuq Basin, with preliminary estimates suggesting recoverable reserves of 65×106 tons. On March 2, the Spanish oil company Repsol discovered a large oil field in Libya, a North African oil-producing country, with total reserves of 2.22×108 tons and exploitable reserves of 65×106 tons. On March 19, Syria discovered a new large oil field in the Lake Latania area; according to exploration and analysis, the oil reservoirs are shallow and the quality of the crude oil is good. On April 19, Iran discovered a large oil field in Khozestan Province in the southwest, with estimated reserves of up to 2.74×108 tons.