Opportunities and Challenges of Tight Oil Development in China

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Abstract Tight oil is the unconventional oil resource developed and utilized by the world on the largest scale currently. The output of tight oil of the USA in 2016 was 220 million tons. According to the statistics of EIA, China has abundant tight oil resources, and its reserves rank No. 3 in the world. In the current situation of continuously low oil prices, through the technical progress and optimized management, the development costs of tight oil of the USA are continuously reduced, and the cost-effective development has been successfully realized. By contrast, China still has to carry out the further exploration in such aspects as policy guidance, understanding of tight oil resources, related technologies and management models. At present, through the positive exploration and practice, some oilfields in China have first realized the cost-effective development of tight oil. By the summarization of existing successful experience and the study of advanced technologies of the USA in tight oil development, the sound engineering management system suitable for the development of tight oil resource in China is established, and great efforts should be exerted to realize the large-scale, cost-effective development of tight oil resources as soon as possible.

Key words： Tight oil the USA Development problems Suggestions

Published: 27 April 2018

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	Articles by authors
	Wang Tiankai
	He Wenyuan
	Xu Kun
	Liao Qunshan
	Li Feng
	Wang Shihong

Cite this article:

Wang Tiankai,He Wenyuan,Xu Kun, et al. Opportunities and Challenges of Tight Oil Development in China[J]. China Oil & Gas, 2018, 25(2): 17-23.

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http://www.coag.com.cn/EN/ OR http://www.coag.com.cn/EN/Y2018/V25/I2/17

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