Guangdong-HK-Macau Region Could Hold Eight Billion Tons in Oil Reserves, Study Shows
Dou Shicong
DATE:  Aug 02 2017
/ SOURCE:  Yicai
Guangdong-HK-Macau Region Could Hold Eight Billion Tons in Oil Reserves, Study Shows Guangdong-HK-Macau Region Could Hold Eight Billion Tons in Oil Reserves, Study Shows

(Yicai Global) Aug. 2 -- The Guangdong-Hong Kong-Macau Greater Bay Area in southern China holds potential oil reserves of around eight billion tons, the Guangzhou Marine Geological Survey said in a recent study.

The report is based on geological data related to regional geology, hydro-geology and engineering geology from surveys and research over the past 20 years, Chinanews.com cited Qin Xuwen, deputy head of GMGS, as saying.

The total area of farmland in the bay area is relatively small at 7,820 square kilometers, but significant portions of land in the region are mudflats and shallow sea areas, which are suitable for engineering and urban construction projects, the study states.

The GMGS detected two natural gas hydrate deposits measuring more than 100 billion cubic meters, highlighting the vast potential for oil, gas and gas hydrate exploration and development in the greater bay area. The region is also rich in geothermal, groundwater, sand resources and geological sites.

The central government first proposed the formation of the Guangdong-Hong Kong-Macau Greater Bay Area Initiative in March 2017. The area, covering 56,000 square kilometers, stretches across Guangzhou, Shenzhen, Zhuhai, six other cities in Guangdong province, Hong Kong and Macau. The region's continental and island coastlines total 3,201 kilometers.

The initiative aims to deepen cooperation between Guangdong, Hong Kong and Macau to transform the region into a world-class bay area and city cluster.

Follow Yicai Global on
Keywords:   Guangdong,Hong Kong,Macao,Energy Resources