PetroChina plans to boost gas output 7% in 2001


BEIJING�PetroChina Co. Ltd. plans to add 1.06 billion cu m of natural gas production capacity in 2001.

That will raise its gas production 7% to 19 billion cu m, accounting for about 70% of China's total. The company's gas production will be further raised to 43.3 billion cu m by 2005.

Part of the production increase by 2005 will feed a pipeline scheduled for construction next year between Xinjiang in the west and Shanghai in the east.

PetroChina will intensify its gas exploration, aiming to prove 100 billion cu m of gas reserves next year.

By 2005, the company plans to cut its gas exploration costs to 60-80�/boe, its development costs to $1.10/boe, and its operation costs to $3.50/boe.

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