The decline of proven conventional petroleum resources in the shallow portions of the Nanpu sag has shifted attention to the exploration of deep unconventional oil and gas resources there, especially the shale oil resources in the middle Eocene shales of the Shahejie Formation (MES shales). In this study, to assess the oil potential of the MES shales, we carried out a systematical geochemical and basin modeling characterization. The results show that the MES shales have low maturity and are at the early stage of hydrocarbon generation, with a mean vitrinite reflectance of 0.64% and low ratio of C27 18α(H)-22, 29, 30-trisnorneohopane to C27 17α(H)-22, 29, 30-trisnorhopane (0.44–1.18). The MES shales contain abundant organic matter (OM), with an average total organic carbon content of 2.21 wt %. Biomarker analyses show that the OM in the MES shales derived mainly from floating macrophyte and aquatic algae, microalgae and bacteria. The sapropelinite group in the MES shales is predominant in the organic macerals, and the kerogen is sapropelic and dominated by types I and II1. Biomarker analyses also reveal that the MES shales were deposited in the stratified water column as suggested by the presence of gammacerane, under relatively warm and wet climatic conditions. The anoxic conditions built up in the water column facilitated the OM preservation, although slight microbial degradation resulted in relatively high carbon preference index values. Modeling results based on geochemical data and basin analyses show that considerable quantities of hydrocarbons remain in the low-maturity MES shales. The preliminary estimate of the quantity of shale oil resources in the Gaoliu area of Nanpu sag is approximately 1.78 × 108 t. Nanpu sag have good shale oil potential, and shale oil exploration may be more feasible for MES shales, especially in the context of in-situ heating technology.
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