PETROLEUM III

closed

Closed

The Karamay Petroleum Project will assist the Government and KOC in exploring and evaluating the potential of the Karamay oilfield, evolving the optimum method of recovering heavy oil, and undertaking a study on utilizing gas from the South China Sea. It will include high resolution and three dimensional seismic surveys, drilling of about 530 exploration/appraisal wells, and designing and carrying out pilot projects for heavy oil recovery. An important objective of the project is to introduce modern technology and methods to the petroleum industry in China, expanding the process initiated under the first two Bank-financed petroleum projects in the country for exploration strategy and heavy oil recovery. The project will provide improvement of techniques and equipment utilized in the evaluation of oil bearing formations, upgrading of the seismic data processing center at Urumqi and the computer center at Karamay, establishment of a training center and technical assistance. The major benefits from the project are the prospect of establishing additional light oil reserves and the potential for heavy oil, evaluating the viability of recovering heavy oil by appropriate thermal processes, possible optimization of gas use in Southern China, and transfer of technology.

World Bank Group

Project

Oil and Gas, Geothermal, Government