Banqiao condensate gas field is located in the main part of Banqiao fault structural belt of Huanghua depression in Bohai basin, 50 km south-east of Tianjin city with an exploration coverage of 400 km2.
Exploration and drilling in Banqiao begun in 1964 and an industrial gas flowing was found in well Ban-3 in Dec.1973, leading to the discovery of Banqiao condensate gas field. By the end of 1998, a gas-bearing area of 57.5 km2 and an OGIP of 3372.×104t had been proven as well as a condensate gas-bearing area of 55.8 km2 and 633.×104t OGIP of condendate gas proven. With its annual gas production of 10108.8×104m3 and annual gas condensate production of 7.57×104t， 60.74×104m3 gas and 170.5×104t gas condensate had been produced cumulatively as of the end of 1998.