Bohai Oilfield targets production of 40 million metric tons

China's largest offshore oilfield by production volume and scale, Bohai Oilfield, is targeting crude oil production of 40 million metric tons in 2025, underscoring the increasing role of offshore output in the country's energy security.

In 2024, its oil and gas output reached a new historical high, with crude oil production exceeding 36 million tons, accounting for nearly one-sixth of China's total crude oil output, a significant contribution to national energy security and economic development, said its operator China National Offshore Oil Corp.

Established in 1965, the Bohai Oilfield has undergone nearly 60 years of exploration and development. It now comprises over 50 oil and gas fields and more than 200 production facilities. Its cumulative crude oil production has surpassed 600 million tons, it said.

While the oilfield is known for its rich oil and gas resources, it also features complex geological structures. In recent years, continuous breakthroughs in exploration theory and technology have laid the foundation for stable and increased oil and gas production.

Offshore energy supply is a crucial growth area for increasing China's oil and gas reserves and production. In 2024, offshore crude oil and natural gas output grew by 4.7 percent and 8.7 percent year-on-year, respectively. The increase in offshore crude oil production accounted for nearly 80 percent of the total increase in China's crude oil output.