PetroChina's Daqing field 2007 oil output 41.7 mln tons vs 43.4 mln

Daqing field, operated by PetroChina Co Ltd (HK 0857), the country's top oil and gas producer, produced 41.7 mln tons of crude oil in 2007, against 43.4 mln tons in 2006, according to China National Petroleum Corp, PetroChina's parent.

The field, located in Heilongjiang province in China's northeast,also produced 2.55 bln cubic meters of natural gas last year. No comparative figure was provided.

PetroChina expects Daqing to produce 40 mln tons of crude in 2008.

Daqing field was first tapped in 1960 and accounted for around one-third of the country's oil output in 2002. Oil output has been declining in recent years.

PetroChina in November signed an initial technology cooperation agreement with Korean National Oil Company (KNOC) with the intention of raising the oil recovery rate at Daqing.