Bohai Oilfield Has Produced Over 500 Million Tons of Crude

China National Offshore Oil Corporation (CNOOC) announced on March 14 that the cumulative oil equivalent of the country's largest crude production base in Bohai Bay has exceeded 500 million metric tons.

With a rising annual production, the crude production base contributes to guaranteeing national energy security and boosts economic and social development.

According to Wang Yu, production manager of CNOOC's Tianjin branch, 500 million tons of oil equivalent can meet the basic needs of 1.4 billion Chinese people for a year.

Founded in 1965, Bohai oilfield is the birthplace of China's modern offshore oil industry.

Over the past 50 years, it has built more than 50 productive oil and gas fields and over 180 production facilities, and has accumulative proved petroleum geological reserves of more than 4.4 billion tons and natural gas geological reserves of nearly 500 billion cubic meters, making it the largest and most profitable field of its kind with the highest output in Chinese waters.

Next, Bohai oilfield plans to work on fine reservoir research, explore the potential of old oil fields and speed up construction of new ones to realize its goal of 40 million tons of output by 2025.

(Executive editor: Niu Yilin)