Jun. 20, 2012 (China Knowledge) - Changqing Oilfield, owned by PetroChina Co Ltd<601857><0857>, is expected to produce 45 million metric tons of oil equivalent in 2012, said China National Petroleum Corp in a statement.

As of Jun. 13 this year, the oilfield's output had increased 10% YoY to 20.53 million metric tons of oil equivalent. Daily output was about 912,000 barrels in the period.

In 2011, Changqing Oilfield produced about 20 million metric tons of crude oil and 25.8 million metric tons of natural gas, thus becoming the third-largest oil field and the biggest gas field on the mainland.

Media reports said earlier that Changqing Oilfield's output is expected to increase to 50 million metric tons in 2013.