China's Daqing Field's 1Q Output Up
Petrochina’s Daqing oilfield has produced 1.2bn m3 of natural gas in 1Q2018, up more than 13% year on year, Petrochina’s parent company CNPC said May 3.
The company has achieved almost 30% of its production target for the year. Sales during 1Q were 759mn m3, up almost 14% year on year. Daqing is one of the largest fields in China and is in Heilongjiang province. Daqing Oilfield Company, a unit of Petrochina, is the operator.
China’s natural gas output has been trending higher since early last year as exploration companies ramped up output to meet rising domestic demand. The trend of higher domestic gas output has carried on into 1Q as well although China's gas production during March was 13.5bn m3, almost the same as the year before. During January-February output was 26.19bn m³, up 4.9% year on year, according to the statistics bureau. In 2017, China's natural gas production was 147.42bn m³, up 8.5% year-on-year, according to statistics bureau data.
CNPC’s gas output in 2017 touched a record of 103bn m3, up over 5% year on year, it said in February. The company accounted for more than 70% of China’s natural gas production last year.