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PetroChina's Changqing oil field to boost production

By Zhang Qi (China Daily)
Updated: 2008-12-04 19:15

PetroChina's Changqing oil field is likely to become the country's largest oil and natural gas producer by 2015, with a 240 billon yuan investment from PetroChina, China Business News reported today.

With the investment, Changqing oil field will boost its annual production from current 20 million tons of oil equivalent to 50 million tons by 2015.

The newspaper said production of crude oil and natural gas would each reach 25 million tons by 2015, with an annual increase of 5 million tons from this year.

Daqing oil field is currently the largest oil and natural gas producer in China, with annual capacity of 40 million tons of oil equivalent.