Status-quo of proved oil/gas initially-in-place in China as of 2020 and its variation trend in the past decade

Abstract

This study analyzes the status-quo of the proved oil/gas initially-in-place and its variation trend, the proved undeveloped oil/gas initially-in-place, and the remaining proved technically recoverable reserves (TRR) of oil/gas in China as of 2020 based on statistics. As shown by the results, the proved oil initially-in-place (OIIP), the proved undeveloped OIIP, and the remaining proved TRR of oil in China are mainly distributed in the Bohai Bay, Ordos and Songliao Basins, and those of free gas are mainly in the Ordos, Sichuan, and Tarim Basins. From 2011 to 2020, the largest increment in the proved OIIP, the proved undeveloped OIIP and the remaining proved TRR of oil occurred in the Ordos Basin, followed by the Bohai Bay Basin, while that in the proved gas initially-in-place (GIIP), the proved undeveloped GIIP, and the remaining proved TRR of gas occurred in the Ordos Basin, followed by the Sichuan Basin. In addition, a comprehensive analysis reveals that the petroliferous basins in China with the potential of reserve addition and production growth include the Ordos Basin, the Bohai Bay Basin, the Sichuan Basin, and the Tarim Basin.

Keywords

• Proved oil/gas initially-in-place (OIIP/GIIP)
• Proved undeveloped oil/gas initially-in-place (OIIP/GIIP)
• Remaining proved technically recoverable reserves (TRR)
• Petroleum distribution in Chinese basins
• Variation trend