Current Situation and Prospects of Petroleum Exploration and Development in China

China is one of the countries, which have rich hydrocarbon resoures. By 1997, the oil production had reached 160,340,000 tons a year. The total oil in place is 18. 8 billion-tons and gas in place is 1. 62 trillion m³. The oil consumption will reach 205-247 million tons in 2000, and 293-468 million tons in 2010, but the oil production will be only 190 and 270 million tons a year respectively.Therefore, we need to utilize the overseas resources and explore oil abroad. At the sam time, it's important to make energy consumption structure reasonable and more economical.