PetroChina's Changqing oilfield oil and gas output exceeded 17 million metric tons in 2006, a net increase of 1.6 million tons year on year. The figures are expected to top 20 million in 2007.
PetroChina Changqing Oilfield, located in the Ordos Basin, will become the most important oil and gas block in China, experts said. It features low permeability, low pressure and low production in oil reserves and low permeability, low pressure, low abundance and low production in gas reserves.
The oilfield's crude oil output posted an annual growth of several million tons for six consecutive years, and the natural gas output increase averaged nearly 20 percent.
The full text is available in the January Issue ofChina Energy.