Thursday, March 27, 2008

Daqing targets annual output of 40 mln tons by 2018

Daqing Oilfield, China's largest oilfield, has geared up its output with an aim to extract 40 million tons annually in the coming decade at the demand of the central government.

Wang Yupu, Daqing's general manager, said the oil field was confident of producing 40 million tons annually through technological innovation, which would be used to explore fields previously regarded as depleted.

The field produced 41.7 million tons of oil in 2007, slightly above the goal. The aggregated production has exceeded 1.9 billion tons since 1959, accounting for around 40% of the country's total crude oil output during the same period.

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