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23

Annual CNPC Offshore Output to Reach 5mln Tons

Annual offshore crude oil output from China National Petroleum Corp

Annual offshore crude oil output from China National Petroleum Corp, the parent of PetroChina Co Ltd, is expected to reach 4-5 mln tons by the end of 2010, a senior official said.

Shi Lin, the president of CNPC unit, CNPC Offshore Engineering Co Ltd, told reporters at an industry conference here that the bulk of CNPC's offshore crude currently comes from a section of Bohai Bay.

A new oil field, located in the Nanpu region of Bohai Bay, is expected to begin commercial crude oil production in three years, but he did not provide the estimated output.

PetroChina vice chairman Jiang Jiemin said earlier that the new field, which reportedly has oil reserves of 2.2 bln barrels, will have output of 500 tons per day.