Published by The Canada Tibet Committee. After years of oil exploration, potential oilfields have been mapped by the Ministry of Geology and Mineral Resources and the China National Petroleum Corporation in the Qiangtang Basin in northern Tibet. Thick oil layers have been discovered in the Gangba Basin in southern Tibet on more than 10,000 sq.m. of ground, according to Qiu Dongzhou, of the China Academy of Geological Sciences. Geologists found the region's first deep oil deposit, with 200 million tons, in the Lhupola Basin, and 1.5 million tons of proven reserves have been found. Geologists have found 6-sq.
Many geologists believe that Tibet has favourable geology for oil formations.
The strata are of the Mesozoic and Cenozoic periods and similar to oilfields in the Persian Gulf and the Karakorum in Central Asia.