Apr. 27, 2010 (China Knowledge) - China National Petroleum Corp, the largest oil and gas producer and supplier in the country, said that its overseas crude oil output rose 12.6% year on year in the quarter ended Mar. 31, 2010, sources reported.
The firm's overseas natural gas output increased 67% year on year in the period.
The company said last week that it plans to increase the output of Rumaila Oil Field, the largest oil field in Iraq, by 10% by the end of this year.
In November, U.K.-based BP Plc and CNPC jointly won a 20-year contract to develop the oil field. At that time, the daily oil output of Rumaila was 1.05 million barrels. Subsequently, the partners agreed to increase the daily oil output to 2.85 million barrels within seven years.
The firm's overseas natural gas output increased 67% year on year in the period.
The company said last week that it plans to increase the output of Rumaila Oil Field, the largest oil field in Iraq, by 10% by the end of this year.
In November, U.K.-based BP Plc and CNPC jointly won a 20-year contract to develop the oil field. At that time, the daily oil output of Rumaila was 1.05 million barrels. Subsequently, the partners agreed to increase the daily oil output to 2.85 million barrels within seven years.
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