July 12, 2007 -- PetroChina has announced its intentions to build a one million ton national crude oil reservoir in Xinjiang Shanshan Chemical Industry Park, China Industry has reported. The project is estimated to cost 879 million yuan and will encompass up to 2636 acres. Upon completion, the structure will comprise a large scale oil reservoir and a system of auxiliary facilities including production pipelines, fire control systems and communication and automatic safety mechanisms. According to China Industry, construction is expected to commence this August and the crude oil reservoir is slated to begin functioning by the end of 2008.