HARBIN, Sept. 26 (Xinhua) -- Daqing Oilfield Co., Ltd, a subsidiary of China's largest oil producer PetroChina, has churned out 2.39 billion tonnes of crude oil since 1959.
The figure was announced Thursday at a grand gathering marking the 60th anniversary of the discovery of the Daqing Oilfield, which is located in northeast China's Heilongjiang Province.
Sun Longde, Party chief of the Daqing Oilfield, said the oilfield has long been a staunch pillar of China's oil and gas security.
A new technology will help the oilfield increase recoverable crude oil reserves by over 100 million tonnes, thus expanding the life cycle of the oilfield, according to sources with the oilfield on Thursday.
Daqing Oilfield, discovered on Sept. 26, 1959, is the largest oilfield run by PetroChina and also the country's largest oil production base.
The oilfield, once accounting for over half of China's total crude output, had an annual crude production of over 50 million tonnes for 27 consecutive years and over 40 million tonnes for 12 straight years.
Its annual crude oil and gas output still remains over 40 million tonnes of oil equivalent, with proven oil reserves at 6.48 billion tonnes. Its annual natural gas output has exceeded 4 billion cubic meters.
