Exploration and Development of Shale Oil in China: State, Challenges, and Prospects

––This article presents the latest state of exploration and development of shale oil of continental lacustrine formations in the main basins of China, summarizes the main theoretical considerations and key technologies for exploration and development, and suggests prospects for exploration and development of shale oil in China. It is believed that the exploration and development of oil in shale formations rich in organic matter of types I and II of medium and high maturity are key to the breakthrough of production of 10 million tons in China. This will play an important role in China’s stable oil production at the level of 200 million tons per year in the future. The efficient development of medium- and low-maturity shale oil resources can be significantly improved and lead to serious changes in oil production only after new breakthroughs in the theory and technology of shale deposits.