In 2007, the crude oil and natural gas output equivalent of XJ was 44.94 mln tons, surpassing Daqing Oilfield for the 1st time, ranking the first in nationwide. The state clearly puts forward that to construct XJ as the largest oil and natural gas production and processing base of China. With the settlement of a large batch of oil and natural gas refining and deep processing enterprises in XJ, the sector has entered a complete new development phase in XJ. The column of past brilliance urges stronger national unity for greater achievements--industries developmentbroadcasts mutual development of the oilfields and local places.
According to the statistics, the estimated natural gas reserve in Tarim Basin is 8 trillion cubic meters, and the proven natural gas reserve reaches 1 trillion cubic meters. Computing on the present annual production output of 20 bln cubic meters of natural gas, the natural gas reserve in Tarim Basin alone can supply for over 50 years to West-East Natural Gas Piping Project.
Since the development plan of XJ petroleum and chemical industry in 2004 to 2010 was staged out, XJ has formed the development principle for petroleum and chemical industry by supporting the upstream exploration, involving the middle stream and developing the downstream products, and extending the processing industrial chain of petroleum and natural gas to the maximum within XJ.
XJ has formed 3 petroleum and natural gas production bases including Junggar Basin, Tarim Basin and Turpan-Hami Basin. Besides, XJ also has formed some featured petroleum, natural gas refining and processing bases in different scales in Karamay, Dushanzi, Urumqi, Korla, Kuqa and Zepu.It has established the crude oil processing and petrochemical system of about 200 kinds of products, such as refined oil,ethylene, fertilizer, plastic and chemical fibre.A petrochemical complex has initially formed with all-round development, pluralistic investment, and extended industrial chain.
According to the plan, now XJ has started 48 key projects on petroleum and petrochemical industry, with total investment of 124 bln Yuan.In 2007, the petrochemical industry completed a total industrial value of 204.54 bln Yuan, about 1000 times of that in 1978. During the 11th 5-Year Program, the fixed asset investment on petrochemical industry of XJ will reach 220 bln Yuan. By the end of the 11th 5-Year Program, that is in 2010, the total production value of the industry will reach 237 bln Yuan. The industrial added value will reach 119.2 bln Yuan with an annual growth of 17%.