China Accelerates Ultra-Deep Oil Drilling to Expand Domestic Supply
Source Summary
PetroChina has produced over 26 million tons of oil equivalents from ultra-deep reservoirs at 6,000 meters depth in the Hade-Fuman oilfield in Xinjiang. China has drilled a total of 485 ultra-deep wells as it pursues more challenging and expensive deep-water and subsurface extraction to boost domestic oil supply amid global market volatility.
Why it matters
China's expansion of ultra-deep drilling directly addresses its energy security by reducing dependence on imported oil amid global supply disruptions.
