BUSINESS China's Shengli Oilfield crude output at 23.4 mln tonnes in 2018

BUSINESS

China's Shengli Oilfield crude output at 23.4 mln tonnes in 2018

Xinhua

14:34, February 07, 2019

JINAN, Feb. 7 (Xinhua) -- Shengli Oilfield, a major oilfield of China, churned out 23.41 million tonnes of crude oil in 2018, 10,000 tonnes above the target.

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Shengli Oilfield (File photo: VCG)

As the flagship oil-producing unit of China's state-owned petroleum giant Sinopec, Shengli Oilfield said it newly added 25.03 million tonnes of proven crude oil reserves last year.

In 2018, the oilfield also produced 480 million cubic meters of natural gas, 110 million cubic meters above the target.

The year 2019 marked the 55th anniversary of the official launch of exploration and development of Shengli Oilfield, which plays a major role in guaranteeing China's energy security.

By late January, its crude oil output exceeded 1.2 billion tonnes over the past more than half a century.

Located in the Yellow River delta, the Shengli Oilfield was discovered in 1961, and its development began in 1964.

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