China's marine oil output to be up 20% in 3rd quarter

China National Offshore Oil Corporation (CNOOC) announced recently that China's marine oil output witnessed a dramatic increase, with the total output reaching 33.4 million barrels equivalent, up 22.7 percent from last year, including 28.6 million barrels of crude oil and 27.6 billion cubic meters of natural gas.

CNOOC's total net output of oil and gas currently is around 37.2 million barrels equivalent, 14.4 percent higher than the 32.5 million barrels in the same period last year. Apart from China's sea areas, CNOOC's rights and interests output in Indonesia hit 8.3 million barrels equivalent.

Due to the rise of oil price and output, the total income of CNOOC in the first three quarters increased by 29.9 percent year-on-year to 27.6 billion yuan. Additionally, Caofeidian 11-1/11-2 oil fields went into operation in July this year ahead of schedule and its one exploratory test well and seven appraisal wells have proved successful. Officials with CNOOC noted that the operation objective this year is hopeful of smooth fulfillment.

By People's Daily Online