China's Shengli oilfield Q1 2012 crude output rises by 1.4%

11 April 2012 13:23  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Shengli oilfield produced 6.8m tonnes of crude in the first quarter of 2012, up by 1.4% year on year, its operator Sinopec said on Wednesday.

Sinopec’s targeted crude output for the Shandong-based oilfield for 2012 is 27.5m tonnes.

With an accumulated proven geological reserve of 5.1bn tonnes, Shengli is the second-biggest oilfield in China after Daqing oilfield.

The field produced a total of 1bn tonnes of crude from 1961, when it was first discovered, to 2011 and its crude output in 2011 was 27.3m tonnes, according to Sinopec.

By: Fanny Zhang
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