Shengli Oilfield Newly Proves 15 MLN Tons of Oil Reserves

Till the end of 2011, the Sehngli Oilfield has newly proven 15 million tons of oil reserves and produced 27.34 million tons of crude oil as well as 500 million cubic meters of natural gas, according to some reports from the company.

The Shengli Oilfield, China's second-largest oil field is located in the Yellow River delta, in the north of Shandong province bordering Bohai Sea. Its main working area covers 28 counties under the jurisdiction of eight prefecture level cities in Shandong Province, namely Dongying, Binzhou, Dezhou, Jinan, Weifang, Zibo, Liaocheng and Yantai. The major production area lies on both sides of the Yellow River Mouth.

The field was discovered in 1961 and its development began in 1964.