(ECNS) -- PetroChina Southwest Oil and Gas Field Company produced 25.31 billion cubic meters of natural gas in the first half of this year, a record for the period, the company said Sunday.
The company's total oil and gas production exceeded 20 million metric tons of oil equivalent in the first half, also a record high. Natural gas output rose 5.4% year on year, while crude oil production increased 62.26%.
The company drilled five high-yield industrial gas wells in the first half, each producing over 1 million cubic meters per day.
The company made exploration breakthroughs in marine carbonate rocks, tight gas, shale gas, and crude oil. In the crude oil sector, it discovered the Nanchong Shunqing oilfield, the first tight oilfield in the Sichuan Basin.
On the production side, the company implemented a dynamic management system to optimize output and efficiently developed major gas fields including Anyue and Penglai.
The company also reactivated some marginal or water-flooded wells through targeted measures. One well in the Moxi block was brought back into production with daily output exceeding 350,000 cubic meters.
Yang Hongzhi, deputy chief geologist of the company, said 177 new wells are planned for the second half, adding 4.188 billion cubic meters of annual production capacity. Total oil and gas equivalent is expected to exceed 41 million metric tons by year-end. That would lay the groundwork for sustained growth during the 15th Five-Year Plan period and support the development of a 100-billion-cubic-meter-class natural gas production base in the Sichuan-Chongqing region.
As the largest natural gas producer in southwest China, the company supplies over 75% of the Sichuan-Chongqing region's natural gas and handles 25% of the country's natural gas peak-shaving.
(By Tang Yuxian)
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