By an OGJ Online Correspondent
BEIJING, Aug. 17 -- China Petroleum & Chemical Corp. (Sinopec) plans to add 1.5 million tonnes of oil production capacity at Shengli field this year.
The new capacity will help raise crude output by 0.68% to 26.58 million tonnes from its earlier target, although it is still 0.67% lower than last year's production of 26.76 million tonnes.
In the first half, Shengli put 755 wells into operation, expanding capacity by 536,000 tonnes.
Meanwhile, Shengli also restarted 70 wells that produced 6,400 tonnes of crude in the first half.
Efforts to boost production at the aging field will be difficult because production at Shengli has reached a watercut of 90%.
In the first half, the field produced 13.2 million tones of oil, down 0.5% on year, accounting for 76% of Sinopec's total.