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Home >> Business
UPDATED: 16:57, January 04, 2006
Daqing Oilfield sets new high in production
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Daqing Oilfield continued to maintain its records in crude oil output, the rate of petroleum and natural gas collection and ratepaying in 2005 with output of crude oil of 44, 950,966 tons and natural gas of 2.44295 billion cubic meters.

While making breakthrough in underground resources prospecting, Daqing Oilfield discovered oil reserve of 100 million tons at Haila'er Basin. The Oilfield now reports proven reserves of oil, controlled reserves and prognostic reserves exceeding 100 million tons respectively.

Thanks to its innovative technology, Daqing Oilfield made significant breakthrough in deep natural gas prospecting, discovering the biggest onshore gas field in east China, with proven reserves of 101.8 billion cubic meters.

On the basis of steady growth in the past seven years, the output of Daqing periphery oilfields exceeded 5 million tons in 2005. Daqing Oilfield has produced 1.86 billon tons of crude oil by 2005, accounting for over 40 percent of China's onshore oil output. The sales revenue, pretax profit of the Oilfield outnumbered 100 billion yuan respectively. Daqing Oilfield ranked the number one in China's top 100 taxpayers list for the fifth time.

By People's Daily Online


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