By an OGJ Online Correspondent
BEIJING, Aug. 16 -- PetroChina Co. has decided to raise its crude production target for this year by 0.7%, or 700,000 tonnes.
It plans to increase production from four oil fields. In the Northwest, Changqing field will increase 300,000 tonnes to 5.2 million tonnes and Yumen field 120,000 tonnes to 520,000 tonnes.
At Tarim basin in the Xinjiang region in the Northwest, production will rise 3% this year, or 140,000 tonnes, to 4.78 million tonnes. In the Northeast, Jilin field will raise output by 3%, or 120,000 tons, to 4.04 million tonnes.
PetroChina also said the four fields will provide more production increases in the next 5 years.
Meanwhile, production at some mature fields will drop this year due to declining flows and high lifting costs. At Daqing field, output will be 3% lower this year at 51.5 million tonnes.