Sinopec Northwest Ramps up Production

Sinopec plans to produce 5.6% more crude oil in its northwest oil field in 2010.

The field will produce 6.97 million tonnes (139,400bpd) of crude this year, compared with 6.6 million tonnes in 2009, reports Reuters.

The field will also produce 1.3 billion cubic metres of natural gas in 2010, and 358 million tonnes of oil equivalent in geological reserves.

Sinopec is China’s second-largest crude producer after PetroChina, which posted a 1.47% growth in crude production in 2009 at 301 million barrels and a 2% rise in natural gas production at 299 billion cubic feet from 2008.