Government Plans to Find oil, Mineral Reserves

China’s hunger for energy has driven its exploration in Africa since last year. In the meantime China starts to dig its own land for oil and metal, from China Daily:

The search is on for domestic reserves of key resources, such as iron ore and crude oil, to reduce dependence on imports, according to a government plan released Wednesday.

By 2010, China aims to find 10 new oil fields, each with a reserve of at least 100 million tons, and eight to 10 new gas fields, each with a reserve of more than 100 billion cu m of natural gas, the national geological surveying and prospecting plan said.

By the same year, the country is also seeking to find about 200 large , with coal, iron and copper being the resources most urgently needed, the plan drafted by the Ministry of Land and Resources, said.

April 2, 2008, 10:30 PM
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Categories: Economy