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Industry News

Petroleum and Natural Gas Development in 13th Five - Year Planning

19.01.2017

January 19, China National Development and Reform Commission (NDRC) expected that during the 13th Five-year (“the period”), the demand of oil will still increase steadily but the growth rate will be further slowdown. The proportion of oil in primary energy consumption will basically remain stable. Increasing the proportion of natural gas in primary energy consumption will be the major target and thereby China will vigorously develop the natural gas industry.

The Petroleum and Natural Gas Development in 13th Five - Year Planning published by NDRC stated that during the 13th Five - Year Planning, China oil & gas reform will be pushed forward by relaxing the market accessibility,  improving the pipe network construction and operation mechanism, implementing equitable access to infrastructure, market - oriented pricing and improving industry management and regulation.

The plan stated that by 2020, comprehensive domestic natural gas supply capacity will reach more than 360 billion m3. By 2020, domestic oil production will reach more than 200 million tons to build a multi-oil supply security system under open conditions in order to protect the oil consumption level of 590 million tons in 2020.

During the period, the annual average increase of proven oil reserves will be about 1 billion tons. The new proven geological reserves will be 3 trillion m3.By 2020, the cumulative proven geological reserves will reach 16 trillion m3.

During the period, the additional proven geological reserves of shale will be 1 trillion m3. By 2020, the cumulative proven geological reserves will exceed 1.5 trillion m3. Additional proven geological reserves of coalbed methane will be 420 billion m3. By 2020, the cumulative proven geological reserves will exceed 1 trillion m3.

Full plan (Simplified Chinese version only):
http://www.sdpc.gov.cn/zcfb/zcfbghwb/201701/t20170119_835567.html