BAKU, Azerbaijan, February 19. China's liquids production is forecast to remain stable in 2025, holding steady at 4.6 million barrels per day (mb/d), according to the latest report from OPEC, Trend reports.
The anticipated growth in production is expected to come primarily from the offshore sector, where significant exploration investments have been made in Bohai Bay and the South China Sea. Additional infill wells and enhanced oil recovery (EOR) projects are expected to offset the decline rates at mature fields.
Key projects that will contribute to the growth in 2025 include oil and gas condensate fields such as Songliaho, Peng Lai 19-9, Kenli 10-2, Shengli, and Liaodong Bay West, which are operated by major companies like CNOOC, PetroChina, and Sinopec. Significant ramp-ups are also planned for fields in Shengli, Xibei, Jilin, and Peng Lai 19-3, along with the Tarim Basin.
However, despite the positive outlook, China’s state-owned oil and gas giant CNOOC is expected to keep its capital spending flat in 2025, revising its output targets lower for both this year and the next.
Looking ahead to 2026, Chinese liquids production is expected to remain unchanged at 4.6 mb/d. New projects slated for launch in the coming year include Jinzhou 25-1 and 25-3, Weizhou 11-4 and 11-12, and Jinxian JX1-1. These projects, which are primarily operated by CNOOC, Sinopec, and PetroChina, will continue to support China’s liquids production alongside expected ramp-ups from major fields such as Daqing, Shengli, Xinjiang, and Dagang.
Overall, China’s liquids production is set to maintain a steady trajectory in the near future, supported by ongoing offshore developments and projects targeting the country’s key oil fields.