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September 14, 2009

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Daqing to triple natural gas production

DAQING Oilfield Co, China's No. 1 terrestrial oil producer, is expected to triple its natural gas production while stabilizing crude output in the years to come.

Wang Yongchun, general manager of Daqing Oilfield, confirmed yesterday that the company would produce 8 to 10 billion cubic meters of natural gas annually by 2020, accounting for 20 to 25 percent of the firm's total oil and gas production.

The target has been written in a document titled "Outlines Regarding Sustainable Development of Daqing Oilfield." The document was completed in June.

The oil field produced 40.2 million tons of crude oil and 2.76 billion cubic meters of gas (equivalent to 2.76 million tons of oil) last year. Gas output accounted for 6.4 percent of the oil field's oil and gas total.

The geological gas reserves around Daqing Oilfield have been estimated at 1 trillion cubic meters. But proven gas reserves were only 100 billion cubic meters as of 2005, Wang said.

Natural gas produced by Daqing Oilfield has been used as a fuel in nearly 600,000 homes, and the number will rise to more than 1 million by the end of this year, according to gas companies in the cities of Daqing and Harbin in Heilongjiang Province.

Daqing Oilfield was discovered in 1959 and production began the following year. It has thus far produced more than 2 billion tons of crude, accounting for 40 percent of the national total during the same period.


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