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Crude output at China's top oil field falls 7 pct in 2017

Kitco News

By Chen Aizhu

BEIJING, Jan 11 (Reuters) -

* Output at the Daqing oil field, China's largest, fell 7 percent in 2017 compared to 2016, as operator PetroChina scaled back production because of high costs in the aging field despite rising global oil prices

* PetroChina produced 34 million tonnes, or about 680,000 barrels per day, of crude oil last year at Daqing, parent company CNPC said on Thursday, without giving a comparison. But based on CNPC's report a year earlier, the 2017 level marked a drop of 7 percent versus 36.56 million tonnes in 2016. Daqing is located in the northeastern Chinese province of Heilongjiang

* Daqing's natural gas output rose to 4.013 billion cubic meters (bcm), CNPC said. That is up from an earlier CNPC report of 3.77 bcm in 2016

* The exploration and development team at PetroChina's Daqing Oilfield unit raised overseas equity oil production to 5.52 million tonnes, up nearly 14 percent from last year, CNPC said, with giving details


(tonne =7.3 barrels for crude oil)


(Reporting by Chen Aizhu; Editing by Biju Dwarakanath and Christian Schmollinger)

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