An oil and gas field in northwest China's Xinjiang Uygur Autonomous Region built by Sinopec Group, the world's largest oil refining, gas and petrochemical conglomerate, has been able to produce 500,000 tonnes of crude oil annually.
As of June 30, the Shunbei oil and gas field, located in the Tarim Basin, had produced 250,000 tonnes of crude oil in the first half of 2018 with a daily output of over 1,500 tonnes, and is expected to yield over two million tonnes of crude oil and three billion cubic meters of gas annually by 2023.
The oil field was discovered in 2016. The amount of resources reaches 1.7 billion tonnes (about 12.4 billion barrels) consisting of 1.2 billion of oil and 500 billion cubic meters of natural gas.
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