BAKU, Azerbaijan, April 2. China's liquid production increased by 0.1 mb/d month-on-month in January, averaging 4.6 mb/d, according to official data, marking a year-on-year increase of 92,000 b/d, Trend reports.
According to OPEC, in December, crude oil output averaged 4.3 mb/d, up by 113,000 b/d compared to the previous month and higher by 101,000 b/d year-on-year. However, NGL and condensate production dropped by 8,000 b/d month-on-month, averaging 40,000 b/d.
For 2024, Chinese liquid production is expected to rise by approximately 10,000 b/d year-on-year, forecasted to average 4.5 mb/d, which remains largely unchanged from previous assessments. Natural decline rates are anticipated to be offset by additional growth through more infill wells and enhanced oil recovery (EOR) projects.
In the coming year, several projects including Lingshui 17-2, Lufeng, Liuhua 11-1, Xi’nan, Bozhong 19-2 Oilfield Development, Shayan, and Liuhua 4-1 (redevelopment) operated by CNOOC, PetroChina, and Sinopec are planned to commence production. Additionally, significant ramp-ups are expected from Changqing, Kenli 10-2, Wushi 17-2, and Kenli 6-4.
Chinese liquid production is forecasted to remain steady year-on-year in 2025, averaging 4.5 mb/d. For the following year, oil and gas condensate projects like Bozhong 19-6, Huizhou 26-6, Peng Lai 19-9, Shengli, Wushi 17-2, Liaohe, and Xijiang 30-2, operated by CNOOC and Sinopec, are planned to come online. Similarly, key ramp-ups are expected from Changqing, Tarim, Xibei, Peng Lai 19-9, and Xi'nan.
