PetroChina’s Xinjiang branch has accelerated the exploitation of the Junggar Basin’s Mahu Oilfield, located in the northwestern of Xinjiang Uygur Autonomous Region. The mega oilfield which was verified in late 2017, has showed oil reserve exceeding one billion tons. PetroChina said that the Mahu Oilfield now produces nearly 6,000 tons of crude oil per day, and expected to achieve 2.18 million tons of crude oil annually by the end of this year.
At the end of May, 79 crude oil wells in the oilfield had been put into operation in total, with an aggregate output of 4.85 million tons. The annual production of Mahu Oilfield is predicted to reach around 5 million tons in 2025.
