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PetroChina targets 4.3 bcm gas output in 2018 at China’s largest oil field

PetroChina said on Thursday it aims to produce 4.3 billion cubic metres (bcm) of natural gas in 2018 from its Daqing oil field, China’s largest, up from 4 bcm in 2017.

PetroChina said in a statement posted on its official website that it plans to drill 10 new wells at Daqing, aiming to lift daily natural gas output by 500,000 cubic metres.

News comes as the company shifts focus to natural gas production at the ageing Daqing field, which has seen oil output dwindle amid high production costs.

Daqing recorded a 7 percent fall in 2017 output versus the previous year.
Source: Reuters (Reporting by Meng Meng and Aizhu Chen Editing by Kenneth Maxwell)

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