CNPC Cites Record High Oil, Gas Output from Foreign Fields in '08

SHANGHAI (Dow Jones Newswires), Jan. 8, 2009

China National Petroleum Corp.'s crude oil and natural gas output from overseas oil fields reached a record high in 2008 at 62.2 million metric tons and 6.7 billion cubic meters, respectively, the company said on its web site Thursday.

CNPC, the country's largest oil and gas producer by output, said crude output from each of Sudan's Block 1/2/4 and Block 3/7 was in excess of 11 million tons last year.

The oil major made exploration breakthroughs in Chad and Block 3/7 in Sudan, and struck a number of high-flowing oil and gas discoveries in Block 4 and 6 in Sudan and Block 5 in Oman as well as blocks in Indonesia and Kazakhstan, it said.

In view of the potential depletion of some of its home oil fields, the state-owned CNPC has stepped up its presence in overseas oil and gas exploration and production in recent years, mostly by forming partnerships with the state oil companies of those countries.  

Copyright (c) 2008 Dow Jones & Company, Inc.

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