Most oil, gas reserves wait to be verified
(Xinhua)
Updated: 2006-05-03 17:13 As much as 78 percent of
China's petroleum reserves and 93 percent of natural gas reserves still wait to
be verified, said sources with the Ministry of Land and Resources (MLR).
Despite good mineralization conditions, China has to improve its exploration
of mineral resources, said the MLR.
According to MLR statistics, 80 percent of China's more than 200,000
discovered mineralization points have not been assessed.
The proven reserves of coal, oil and gold is only one-fifth or one-fourth of
the possible reserves of the country, said the MLR.
The exploration for mineral reserves in western China is quite undeveloped
and the reserves in eastern China still need systematic exploration and
investigation.
China has great potential for discovery of energy and metal reserves to feed
its booming economy and more efforts should be made in resources exploration and
development, said experts.
China has discovered 171 minerals with the reserves of 158
verified.
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