The main exploratory area of Xijiang Oilfield is the Junggar Basin, one of the four major basins in China, each having total oil and gas reserves estimated to top 10 billion tons. In 2002, the oilfield produced 10 million tons of crude oil to become the first 10-million-ton oilfield in Western China. Over the past five years, the oilfield has acquired a production capacity of 8.9 million tons of crude oil and produced 50.69 million tons of crude oil, averaging an annual net growth of 428,000 tons, and 10.162 billion cubic meters of natural gas, averaging an annual net increase of 210 million cubic meters. The oilfield has also verified geological natural gas reserves of 26.751 billion cubic meters and proved recoverable oil reserves of 75.914 million tons as well as 17.098 billion cubic meters of natural gas. In 2005, Xinjiang Oilfield plans to verify geological reserves of 60 million tons of oil and 5 billion cubic meters of natural gas and prove recoverable reserves of 13.35 million tons of oil and 3 billion cubic meters of natural gas. It also plans to produce 11.70 million tons of crude oil and 2.8 billion cubic meters of natural gas this year. PIN/ASIA PULSE