500 million tons of oil, natural gas found in NW China’s Junggar Basin

The Junggar Basin has great potential for oil and gas resource exploration, and is an important alternative area for the development of crude oil production and China’s petroleum reserves. Oil and gas exploration in the Junggar Basin has been accelerating in recent years. Over 1 billion tons of reserves have been discovered in the Mahu area, with a daily production level of 5,942 tons of crude oil, the Xinhua News Agency reported.