The China National Offshore Oil Corporation announced today the discovery of the “Bozhong 26-6” oil field, the world’s largest metamorphic shale oil field, located in the southern Bohai Sea. Situated 170 kilometers from Tianjin Municipality, this field boasts a record amount of oil and gas reserves. According to China Media Group, the proven oil and gas reserves in the “Bozhong 26-6” field are estimated at over 40 million cubic meters, with the field’s cumulative confirmed reserves exceeding 200 million cubic meters.
During exploration, engineers discovered an oil and gas layer reaching a depth of 118 meters. The average daily oil production is expected to exceed 390 cubic meters (approximately 2,453 barrels), while the average daily gas production is anticipated to surpass 50,000 cubic meters. This represents a record in the test production capacity of newly discovered wells in the field.
The discovery of the “Bozhong 26-6” oil field could significantly enhance China’s energy security and reduce its reliance on foreign oil imports. As the largest metamorphic shale oil field, its development aligns with global trends where shale oil has reshaped energy markets, leading to shifts in geopolitical dynamics, as seen in the U.S. experience with shale oil revolutionizing its energy landscape. For China, this discovery not only promises an increase in domestic oil production but also has the potential to influence its economic and strategic positioning on the global stage.
