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    1. Drilling & Production

    China's Daqing crude output to fall by 2 million tonnes/year until 2005

    Sept. 21, 2001
    Daqing Oil Co., a subsidiary of PetroChina Co., expects its crude oil output to fall by 1.5-2 million tonnes/year till 2005. This year, Daqing oil field -- China's largest -- will produce 51.5 million tons, down 1.5 million tons from last year.

    By an OGJ Online Correspondent

    HOUSTON, Sept. 21 -- Daqing Oil Co., a subsidiary of PetroChina Co., expects its oil output to fall by 1.5-2 million tonnes/year till 2005.

    This year, Daqing oil field -- China's largest -- will produce 51.5 million tons, down 1.5 million tons from last year. Production hovered above 50 million tonnes/year for the last 10 years.

    At Daqing, production is getting more and more expensive, with water cuts as high as 85%.

    The operator plans to explore and produce marginal prospects outlying Daqing's main production blocks during the next 5 years. It expects to identify 300 million tonnes of probable crude reserves with the goal of recovering 54 million. It said gas resources could be 23 billion cu m, of which 16 billion may be recoverable.

    Daqing is China's major crude exporter. It is due to ship 3 million tonnes to Japan under a government-arranged program this year.

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