China's oil reserve to increase for 20 years
(Agencies)
Updated: 2004-06-21 16:06

An oil expert in China says it is possible for the country to keep growth of its oil reserves stable for as long as 20 years, with its total amount of explorable crude oil reaching 15 billion tons.

Li Gansheng, an engineer from Sinopec, China's leading producer and supplier of petroleum products, says the total amount of explorable crude oil in the country has reached 15 billion tons.

He says though China is rich in oil resouces, the prospecting work is difficult due to the country's complicated geological structure.

China, which has become a net oil importer, bought 86 million tons of crude oil on the international market last year. Experts estimate the figure might exceed 100 million tons this year.

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