CNPC steps up domestic oil production
The Mahu field in Northwest China's Xinjiang autonomous region, one of China National Petroleum Corporation's largest finds in recent years, witnesses daily oil production of more than 405.6 cubic meters and daily gas production of 36,000 cubic meters, the company said on Monday.
This is a step forward in safeguarding the country's energy security by increasing domestic output, it said in a statement.
China has become the world's biggest importer of crude oil. It is also expected to overtake Japan as the top buyer of liquefied natural gas this year, with increasing demand for the cleaner fuel.
The country's major oil companies have been speeding up drilling and exploration from major tight and shale oil and gas formations in the country's western regions recently to boost domestic output.
New exploration in shale gas, tight oil and tight gas will lead to growth in production for the company, it said earlier.
