Wednesday, February 7, 2007

China

Number 6
China

http://www.rigzone.com/news/article.asp?a_id=42765

China's strong demand for energy spurred PetroChina to produce an aggregate of over 1 billion barrels of oil equivalent last year with crude oil accounting for 831 million barrels. Jiang forecast that PetroChina's oil output may rise to 2.3 million barrels a day this year, with gas production reaching 4.56 billion cubic feet a day. Its refineries will process an estimated 2.25 million barrels of crude daily.



From CERA's 2005 Report:

Capacity in China is projected to decline slowly from peak levels of 3.52 mbd in 2005 to 3.30 mbd in 2010. Many of the large onshore fields are in decline, but this will be partially offset by the increasing production from the Bohai Gulf area as the largest development, Peng Lai Phase 2, ramps up, and from the Wenchang and Pearl River Mouth areas.