Liaohe is a producing heavy oil field located onshore China and is operated by PetroChina .

Field participation details

The field is owned by China National Petroleum .


Production from Liaohe

The Liaohe heavy oil field recovered 58.88% of its total recoverable reserves, with peak production in 1995. The peak production was approximately 311.07 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2057. The field currently accounts for approximately 3% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 1,634.74 Mmboe, comprised of 1,615.97 Mmbbl of crude oil & condensate and 112.56 bcf of natural gas reserves. Liaohe heavy oil field reserves accounts 3.74% of total remaining reserves of producing heavy oil fields globally.


About PetroChina

PetroChina Co Ltd (PetroChina), a subsidiary of China National Petroleum Corporation, is an oil and gas company. It explores for and develops and produces crude oil and natural gas; refines crude oil and petroleum products; and produces and sells basic and derivative chemical products and others. The company also carries out the production and marketing of primary petrochemical products. It also markets and trades refined products; and transmit natural gas, crude oil and refined products through pipelines. The company’s exploration basins include Erdos, Tarim, Sichuan, Daqing, Changqing, Liaohe, Xinjiang and Bohai Bay. The company has operational presence in China, Kazakhstan, Venezuela and Indonesia. PetroChina is headquartered in Beijing City, Beijing, China.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.