China’s Changqing oilfield targets 25 mn tonnes by 2015

July 18th, 2008 - 10:07 pm ICT by IANS  

Beijing, July 18 (Xinhua) China’s Changqing oilfield plans to produce 25 million tonnes of crude oil and 32 billion cubic metres of natural gas by 2015, its parent China National Petroleum Corp (CNPC) said Friday. The rise of production in the third largest oilfield located in northern Ordos Basin guaranteed energy supply to areas including Beijing, CNPC general manager Jiang Jiemin said while announcing the field’s new output target.

The CNPC earlier said that the Changqing field would expand capacity to ensure gas supply during the Beijing Olympics.

In the first quarter of the year, the field witnessed an increase in its natural gas output to 3.54 billion cubic metres, up by 33.41 percent compared to the output in the corresponding period a year ago.

On Thursday, China’s leading oilfield Daqing also announced that it would further increase production to ease domestic shortage. It aimed to produce around 40 million tonnes of crude annually in the next decade.

Soaring global crude prices have put the country under great pressure. The situation could get worse if China continued largely relying on imported energy, Wang Yupu, general manager of Daqing oilfield said.

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