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Exploration & Production

CNPC is engaged in hydrocarbon exploration and production operations in onshore and offshore areas in China and is authorized to cooperate with foreign oil companies to jointly explore and develop some blocks in China. CNPC has overseas exploration and production activities in more than 30 countries in Africa, Central Asia-Russia, South America, the Middle East and the Asia-Pacific.

Oil & Gas Exploration

Our exploration activities backed by advanced geologic theories and technologies have resulted in successive discoveries in the Songliao, Bohai Bay, Ordos, Tarim, Junggar, Qaidam, Sichuan, and Hailaer basins. In 2020, we increased 872.53 million tons of proven oil in place and 648.3 billion cubic meters of proven gas in place in China.

Development and Production

We conduct a series of major trial development projects to address the challenges in efficient development of high water-cut, ultra-low permeability and ultra heavy oil reservoirs.

We maintain steady production through enhancing dynamic adjustment of development programs, optimizing capacity layout, discontinuing marginal and non-performing projects, drilling more horizontal wells, and controlling natural decline of mature fields.

In 2020, CNPC produced 102.25 million tons of crude oil and 130.6 billion cubic meters of natural gas in China. The gas to oil ratio was further optimized as the proportion of natural gas in our domestic oil and gas production stood above 50% for the first time.