Sinopec Took Its First Step of Oil & Gas Exploration in Qinghai-Tibet Plateau

Sinopec has took the first practical step of oil and gas exploration in Qinghai-Tibet Plateau. Presently, Nakqu base of SINOPEC Southern Exploration and Exploitation Company was formally established, which is the first oil and gas exploration base of Sinopec in Tibet.

According related plan of Sinopec, exploration of oil and gas resources will be completed in 3 to 5 years and 2 to 3 drilling spots be proposed in this area. Geologists believe that though Qinghai-Tibet Plateau is explored in the lowest degree on land, its oil and gas resources may reach to 8 to 20 billion ton because of its vast territory, including many sedimentary basins of the Cenozoic Era and Mesozoic Era.