CNPC overseas output up 30,000 tons y-o-y in H1
Beijing. July 29. INTERFAX-CHINA - China National Petroleum Corp. (CNPC), China's largest oil and gas producer, boosted overseas oil and gas production in the first half (H1) by 30,000 tons year-on-year, or 219,000 barrels per day (bpd), the firm said July 28.
The company did not release overall production figures for its overseas operations, but previously set targets for this year of two million bpd of oil equivalent, while planning to raise its foreign equity oil output to one million bpd, the statement said.
Meanwhile, the firm is expected to increase output of natural gas from domestic and overseas sources to 120 billion cubic meters (bcm) per year by 2015, Xinhua news agency reported July 27.
The firm plans to put an additional four gasfields into operation during the 12th Five-Year Plan (FYP) period (2011-2015), each with reserves of about one trillion cubic meters (tcm), the report said. The locations of the proposed gasfields were not disclosed.
Aggregate annual output from fields CNPC tapped during the 11th FYP period (2005-2010) is presently exceeding 30 bcm, the report added.
The firm has increased its focus on gas over the last decade, with total output in 2010 reaching 72.5 bcm, or 35.4 percent of its total oil and gas production, up from 12.4 percent in 2000.
PetroChina Co. Ltd. (PetroChina), the listed arm of CNPC, expects annual natural gas output of 200 tons oil equivalent by the end of 2015, Interfax reported May 18.
CNPC produced 1.73 million bpd of oil equivalent in foreign oil and gasfields it operated in 2010.
-LX
