| Abstract: | China has rich oil resources, yet relatively low-quality crude oil and difficulty in exploration and development limit the pace the oil industry will be. At present, the prospects of oil development are in a moderate mature stage, the increasing trend of high basic value in oil reserves pose a huge potential of oil exploration and development in China. The most proved reserves are distributed in big-and-middle-sized basins, and will be the main fields of undiscovered oil resources. In addition,though the degree of exploration in unconventional oil is low, its development with abundance resources will be as a significant complementary resource to conventional oil. |
