China discovers over 200 new oil, gas fields

China has discovered 225 new oil and gas fields over the past five years, according to officials in Beijing, as the world grapples with energy shortages and rising costs.

The Natural Resources Ministry said the discoveries include 13 oil fields, each containing more than 100 million tonnes of reserves, and 26 gas fields with over 100 billion cubic metres of gas, Caliber.Az reports, citing US media. 

While the ministry did not detail how much of the reserves are currently recoverable, it said domestic natural gas output is expected to rise annually, while oil production remains steady at around 200 million tonnes per year, “thanks to the significant increase in the newly discovered energy reserves.”

The ministry added that China had invested more than 450 billion yuan ($66 billion) over recent years, nearly doubling its known crude oil and natural gas reserves compared with a decade ago.

It said officials would “resolutely safeguard our energy security,” and continue expanding oil and gas exploration.

The announcement comes as global energy markets face pressure following disruptions linked to the Strait of Hormuz, a key route for global oil shipments.

China, the world’s largest energy importer, sources roughly 10% of its oil from Iran and remains exposed to external supply shocks, though it has been comparatively insulated due to a long-term drive towards energy self-sufficiency.

Chinese leader Xi Jinping this week urged officials to “systemically address the challenges posed by external shocks, enhance the security of energy and resource supplies, and counter various uncertainties with the certainty of high-quality development.”