New oil field found in Gansu

China National Petroleum Corp (CNPC) announced that it made China's largest oil field discovery in a decade. The oil field, which has proven oil reserves of 108 million tons, is located in northwest China's Gansu province, in the Xifeng area of the southwestern Erdos Basin. The Erdos Basin stretches across Shanxi, Shaanxi and Gansu provinces and the Ningxia Hui and Inner Mongolia Autonomous Regions. CNPC estimated that the basin holds oil and gas resources equivalent to 2.85 billion tons.