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CNPC oilfield sees year-on-year growth of 22%

By Xiao Wan (China Daily)
Updated: 2009-10-14 08:07

China National Petroleum Corp (CNPC), the country's largest oil and gas producer, said Tuesday that output from its second biggest oilfield, Changqing, saw 22.16 percent year-on-year growth in the first nine months.

The field in northwestern China produced equivalent 22.59 million tons of oil. It is on course to meet the annual output target of 30 million tons of oil equivalent, CNPC said in a statement on its website.

This includes 11.36 million tons of crude and 14 billion cu m of natural gas, said the statement.

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Sources with CNPC earlier said that one important task for the company in the next three years was to stabilize the output of some old oilfields and conduct the second round of development of these fields, including the company's largest oilfield, Daqing in Heilongjiang province in northeastern China.

Daqing oilfield has produced 2 billion tons of oil since its discovery. This is equivalent to 40 percent of the total oil China has produced in the past five decades. Last year, Daqing produced 40.2 million tons of oil, about a quarter of China's total oil output annually...

The full text is available in the October Issue of China Energy. Please visit E-shop for more subscription details.