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Changqing Oilfield's output rose 10% in H1 2012

Jul. 9, 2012 (China Knowledge) - China National Petroleum Corp or CNPC, the parent company of PetroChina Co Ltd<601857><0857>, announced last Friday that Changqing Oilfield's output rose 10% YoY to 22.57 million  tons of oil equivalent in the first half of 2012.

From January to June this year, the oilfield produced 11.01 million tons of crude oil and 14.5 billion cubic meter of natural gas.

Changqing Oilfield's aims to produce 45 million tons of oil equivalent or 901,000 barrels of oil and gas equivalent in 2012, said CNPC.

Changqing Oilfield which is located in Ordos Basin was the country's third largest onshore fields by oil production in 2011.

Earlier this month, the official Xinhua News Agency reported that Changqing Oilfield's annual production is expected to surpass 50 million tons of oil equivalent by the end of 2013.

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