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China's third largest oilfield expects 24% growth in output this year
(Xinhua)
Updated: 2009-12-21 10:27
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China's third largest oilfield, Changqing, is expected to post an annual growth of 24 percent in oil and gas output this year, the company said Sunday.
By Dec 19, the oil and gas equivalent production at Changqing had exceeded 30 million tons, and the figure would reach 31 million by the end of this year, or 6 million more than last year, said Peng Xufeng, a company spokesman.
Changqing, a subsidiary of PetroChina, is the country's third largest oilfield, after Daqing and Shengli.
But Peng said he believes Changqing has overtaken Shengli as the second largest oilfield in China, as the annual oil and gas equivalent production at Shengli is less than 30 million tons over recent years.
Daqing is also a subsidiary of PetroChina, and Shengli is owned by its rival Sinopec.
Changqing is located in north China's Ordos Basin, and the company is headquartered in Xi'an, capital of northwestern Shaanxi province.
It has a total area of 370,000 sq km for exploration, and reports 8.5 billion tons of oil resources and 10.7 trillion cu m of natural gas.
So far, it has proven more than 2 billion tons of oil reserves and 2.7 trillion cu m of gas reserves.
