Offshore staff

(Asia-Pacific) - China's annual oil output is expected to surpass 1.6 Bbbl in the 2010-2015 period, and the production capacity will last for at least 15 years, a senior official with the Ministry of Land and Resources reported to local sources.

According to the official, China's proven oil reserve would increase 6.4 Bbbl to 7.9 Bbbl a year on average between 2005 and 2020.

His estimate is based on the results of a new round of assessment on China's oil and gas resources, which covers 129 basins.

The results indicate that China's natural gas output will move up steadily in the coming 15 years to reach 90 bcm to 110 bcm by 2010, and to 150 bcm to 170 bcm by 2020.

The official advises to strengthen geological academic research on oil and gas exploration and increase input in the sector to enhance exploration technology.

12/15/05