Ministry of Natural Resources 5 Moon 6 A briefing was held today to update on... 2007 From the beginning of the year to 2014 The results of the new round of nationwide dynamic evaluation of conventional oil and gas resources, which concluded at the end of the year.

　　It is understood that as of... 2014 At the end of the year, nationwide conventional oil (hereinafter referred to as “ Petroleum ” Geological resource amount 1085 100 million tons, recoverable reserves 268 hundred million tons, and 2007 Compared to the annual evaluation results, they have increased by... 320 hundred million tons, 56 Hundred million tons, growth 42% and 26% ; Cumulative proven geological reserves 360 100 million tons, degree of proven reserves 33% , in the mid-stage of exploration; conventional natural gas (hereinafter referred to as “ Natural gas ” Geological resource amount 68 Trillion cubic meters, recoverable resource volume 40 Trillion cubic meters, and with 2007 Compared to the annual evaluation results, they have increased by... 33 Trillion cubic meters, 18 Trillion cubic meters, an increase of 94% and 82% ; Proven geological resource reserves have been identified. 12 Trillion cubic meters, proven reserves 18% is in the early stages of exploration.

　　As of 2014 By year-end, the nation’s cumulative production of oil and natural gas had reached— 62 hundred million tons, 1.5 Trillion cubic meters; the remaining recoverable resource volumes are as follows: 206 hundred million tons, 38.5 Trillion cubic meters. According to... 1111 Conversion to cubic meters of natural gas 1 Tons of oil, the remaining recoverable reserves of natural gas are approximately equivalent to those of oil. 1.7 Multiple, newly added geological reserves 90% The figures above represent proven and undeveloped reserves, and there is significant potential for further reserve growth and increased production. In the future, China will enter a phase of rapid growth in both natural gas reserves and production.

　　In addition, China’s oil and gas resources are mainly concentrated in... 11 A large oil- and gas-bearing basin: Bohai Bay, Songliao, Tarim, Ordos, Junggar, Pearl River Mouth, Qaidam. 7 The oil resource reserves, proven reserves, and production from individual oil- and gas-bearing basins account for more than the national total. 80% Ordos, Sichuan, Tarim, Qaidam, Pearl River Estuary, Southeastern Hainan, East China Sea, Yinggehai, Songliao 9 The natural gas resources, reserves, and production of this basin account for more than the national total. 80%。

　　In addition, 2014 This year, China’s oil and gas exploration and development situation continues to improve. National crude oil production... 2.10 100 million tons, natural gas production 1243 Hundred million cubic meters, ground-based coalbed methane production 36.9 hundred million cubic meters, shale gas production 12.5 Hundreds of millions of cubic meters—both reaching historic highs. Newly discovered geological reserves of oil and gas have also been steadily increasing. 2014 Year, China's newly discovered geological reserves of oil 10.44 Hundred million tons, consecutive 8 Newly discovered geological reserves added annually exceed 10 Hundred million tons, newly proven geological reserves of natural gas 10364 hundred million cubic meters, up year-on-year 77% , first breakthrough 1 Trillion cubic meters. Oil and gas production technologies are demonstrating stable and high production levels.

　　The evaluation results released this time also show that, due to the poor quality of China’s remaining conventional oil and gas resources that have yet to be exploited, coupled with the significant challenges involved in their exploration, development, and utilization, the costs of exploring and developing China’s oil and gas resources continue to rise.

　　Additionally, the Ministry of Natural Resources is currently organizing and conducting a potential assessment of unconventional oil and gas resources such as shale gas and coalbed methane. The results of the assessment will be released to the public once it is completed.