CNOOC doubling crude oil output

0 CommentsPrint E-mail China Daily, December 8, 2009
Adjust font size:

CNOOC Ltd, China's biggest offshore oil explorer, may double its crude oil and natural gas production in the western part of the South China Sea to meet rising energy demand in the country.

China's third-largest oil company may expand its output in the area to 20 million cu m by 2015 from 10 million cu m, or 38.97 million barrels, last year, Ke Luxiong, deputy general manager of CNOOC's Zhanjiang division, said after a media tour of the unit's operations in the southern city.

Increased energy demand in the world's fastest-growing major economy is prompting CNOOC to intensify exploration in the area. A number of overseas companies have shown "immense" interest in joining CNOOC's bid to develop deepwater blocks in the region, Xie Luhong, head of the CNOOC unit, told reporters in Zhanjiang in Guangdong province on Dec 4.

"The deepwater areas are said to hold a significant amount of resources," Qiu Xiaofeng, a Shanghai-based analyst with China Merchants Securities Co, said. "CNOOC may need to enlist help from overseas partners in the beginning due to potential technical difficulties."

CNOOC plans to work with overseas partners to drill the first deepwater wells in the area next year, Xie said, without naming the companies. "The water depth might be between 1,500 m and 1,800 m," he said.

The company currently drills at a water depth of as much as 180 m in the region, according to Xie. "There is huge potential in the deepwater blocks in the South China Sea, most of which are expected to hold natural gas resources," Xie said.

CNOOC and its partners may spend about 200 billion yuan through 2020 to develop energy reserves in the South China Sea in the country's biggest push to tap oil and gas resources off its coast, Luo Donghong, chief development engineer at CNOOC's Shenzhen unit, said in November last year.

The western part of the South China Sea is CNOOC's "most important" natural-gas producing area, the company said on its website. Exploration partners include BG Group Plc, Devon Energy Corp and Roc Oil Co, Xie said.

As of the end of last year, CNOOC had proven reserves of oil and gas of 614.4 million barrels of oil equivalent in the region, data on its website show. That's 24.4 percent of the company's total.

CNOOC had targeted to increase production in the area by about 13 percent to 44.069 million barrels this year, Xie said. "The goal can be met under normal conditions," he said, without elaborating.

CNOOC, which gets more than 70 percent of its output from domestic offshore fields, is boosting production to benefit from a rebound in fuel demand as China's economic growth accelerates. The company said in January it aims to produce 225 million to 231 million barrels of oil equivalent this year.

The South China Sea, spanning 3.5 million sq km, stretches from Singapore to the Taiwan Straits.

PrintE-mail Bookmark and Share

Comments

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Comments are moderated and generally will be posted if they are on-topic and not abusive.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
主站蜘蛛池模板: 亚洲午夜精品在线| 免费毛片网站在线观看| 在线私拍国产福利精品| 天堂中文www资源在线| 全免费毛片在线播放| 青青青青啪视频在线观看| 国产第一福利136视频导航| 91福利在线观看视频| 无限资源视频手机在线观看| 亚洲av无码国产一区二区三区| 欧美日韩在线免费观看| 国产twink男同chinese| 97久久天天综合色天天综合色| 国产精品手机视频一区二区| 99久久亚洲综合精品成人网| 女人pp被扒开流水了| 九九视频九九热| 欧美另类videovideosex| 亚洲精品亚洲人成在线观看| 男人操女人的网站| 国产国语对白一级毛片| 亚洲另类专区欧美制服| 国产精品嫩草影院永久一| 91精品综合久久久久久五月天 | 香蕉视频免费在线| 夜夜爱夜夜做夜夜爽| а√天堂资源官网在线资源| 成人免费淫片在线费观看| 亚洲一区二区三区亚瑟| 欧美日韩国产另类一区二区三区| 亚洲精品国产精品国自产观看| 老司机亚洲精品影视www| 国产亚洲精品精品精品| 韩国免费三片在线视频| 国产成人av区一区二区三| 国产四虎免费精品视频| 国产欧美一区二区精品久久久| 欧美日韩一区二区不卡三区 | 久久久久久国产精品视频| 日本暖暖视频在线| 久久久久久久99精品免费观看|