Business / Companies

PetroChina promises more natural gas from Tarim Oilfield

(Xinhua) Updated: 2016-02-04 16:31

Urumqi -- The oil giant that operates the major Tarim Oilfield in northwest China plans to increase the site's annual natural gas output from the current 23.55 billion cubic meters to 30 billion cubic meters in the next five years.

Xie Wenyan, the PetroChina executive in charge of the oilfield, said on Thursday that it will also produce 6 million tons of crude oil and explore an average of 100 million tons of oil and gas equivalent every year from 2016 to 2020.

The annual gas supply of Tarim Oilfield in Xinjiang Uygur autonomous region has increased from 351 million cubic meters in 2004.

In the past five years, the site contributed one sixth of China's total gas output.

According to official data, Tarim Oilfield has a proven natural gas reserve of 1.85 trillion cubic meters, 13 percent of its estimated total reserve.

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