Liaohe is a producing heavy oil field located onshore China and is operated by PetroChina. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Buy the profile here.
Field participation details
The field is owned by China National Petroleum.
Production from Liaohe
The Liaohe heavy oil field recovered 59.81% 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 2058. The field currently accounts for approximately 3% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 1,632.80 Mmboe, comprised of 1,547.98 Mmbbl of crude oil & condensate and 508.91 bcf of natural gas reserves. Liaohe heavy oil field reserves accounts 3.80% of total remaining reserves of producing heavy oil fields globally.
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 Songliao, Ordos, Tarim, Junggar, Sichuan and Bohai Bay. The company has operational presence in China, Kazakhstan, Australia and Indonesia. PetroChina is headquartered in Beijing City, Beijing, China.
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