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China's largest oil producer vows to maintain prominence for 50 more years
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16:46, September 22, 2009

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Daqing Oilfield, China's largest oil producer, wants to retain its prominence in the country's petroleum industry for another 50 years.

Wang Yongchun, general manager of Daqing Oilfield Co. Ltd, said Tuesday the oilfield would remain an important energy base and continue to contribute a large proportion of China's energy supplies up to 2060.

Wang said factors such as adequate underground fossil resources, scientific progress and well-trained personnel would help achieve this end.

In accordance with the overall sustainable development plan for the oilfield, it will be capable of producing crude and gas equivalent to between 20 million tonnes and 25 million tonnes from its wells annually by 2060.

This future output will be supplemented by extra crude and gas equivalent totaling between 15 million tonnes and 20 million tonnes from international trade and cooperative development.

Discovered in 1959, development of the Daqing Oilfield began in the next year. It has so far produced more than 2 billion tonnes of crude, accounting for 40 percent of the national total for the same period.

The oilfield produced 40.2 million tonnes of crude oil and 2.76billion cubic meters of gas (equivalent to 2.76 million tonnes of oil) last year. The oilfield's accumulated proven oil reserves total 6.36 billion tonnes.

Source: Xinhua

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