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CNPC Changqing produces 26% more oil, gas in 2008

China’s State-owned CNPC said oil and gas output in its second-largest Changqing oilfield in northern Ordos Basin reached 25.2 million tonnes of oil equivalent in 2008, or 504,000 barrels per day.

Production was up 26% from a year earlier.

Newly added crude and natural gas production capacity in the field, run by PetroChina, the listed arm of CNPC, reached 4 million tons and 4.5 billion cubic meters respectively last year, CNPC said.

The company aims to lift oil and gas output in Changqing to 50 million tons of oil equivalent in 2015, replacing Daqing as its largest, CNPC said in an announcement on its website - www.cnpc.com.cn.

Crude output in Daqing oilfield, also China's largest, fell 3.6% from a year earlier to 40.2 million tons in 2008, or 804,000 barrels per day, state media said. (Reuters)