Jiangsu Oilfield is based in a historical and cultural city –Yangzhou of Jiangsu province, which is named as an “Oilfield in water land” with wells drilled in parks because of the features of a galaxy of scholars, developed economy and beautiful scenes. The oilfield is distributed in 6 cities and 12 counties in Jiangsu and Anhui provinces, including Jiangdu, Gangjian, Gaoyou and Yizhen of Yangzhou city, Jiangsu, Xinhua of Taizhou city, Jinhu, Yutai and Hongze of Huaiyin city, Jurong of Zhenjiang city, Dongtai and Sheyang of Yancheng city and Tianchang of Xuzhou city, Anhui etc. At present, the exploration is targeted primarily at Dongtai depression of Subei basin.

The oil and gas exploration in Jiangsu oilfield begun in 1956. Zhenwu oilfield was discovered as a result of commercial oil flow found in well Su-58 on Sept.15,1974, which revealed a new chapter in the history of Jiangsu petroleum industry. So far, 34 oilfields have been discovered successively, including Zhenwu, Liuzhuang, Fumin and Minqiao with a proven OOIP of 1.74X108t and OGIP of 74X108m3 in a proven oil-bearing area of 161 km2. Its established production capacity is more than 150X104 t/a.