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"PetroChina" in the last five years
In December 31, 2010, PetroChina Changqing Oilfield production exceeded 35 million tons, got a net increase of 20 million tons than the late “the Tenth Five-Year Plan". This is equivalent to contributing a medium-sized oil field for the country every year. In the "Eleventh Five-Year", PetroChina total proved oil and gas reserves got an increase of 1.3 times. The domestic and foreign oil and gas equivalent production increased from 199 million tons to 245 million tons. The total assets of the company increased from 1.17 trillion Yuan in the late “the Tenth Five-Year Plan" to 2.5 trillion Yuan and achieved double. In the short period of 5 years, this for PetroChina is equivalent to having rebuilt a “PetroChina” for the country. It not only achieved its own stable and rapid development, but also made great contribution to ensuring domestic energy supply, easing the energy shortage as well as ensuring the good and fast development of national economy.
It is known that China Petroleum implemented the concept of scientific development, positively changed the mode of development, vigorously implemented the "resources, markets, international" three strategies, accelerated the construction of integrated international energy company and did well in domestic business, international business and technology innovation.
In the domestic market, China Petroleum positively changed the mode of development, increased exploration efforts to ensure high and stable yield for domestic oil and gas. In the 5 years, China Petroleum new proved oil and gas reserves has exceeded 10 million tons for 4 years. While the expansion of reserves, 13 main fields took every effort to maintain stable production and increase production. In the "Eleventh Five-Year" period, domestic oil and gas production has increased 1.5 million tons more than the “Tenth Five-Year".
At the same time of domestic stable, increase production, PetroChina international operation level continued to rise during the period, overseas oil and gas business achieved great-leap-forward development. Central Asia—Russia, Africa, Middle East, the Americas, Asia-Pacific five oil-gas cooperation zones has been initially built. New project development and Asset Merger made great breakthroughs. Oil and gas production, oil refining and pipeline transportation capacities improved significantly. Asia-Pacific and other 2 international Oil and Gas Operations Center made first appearance. International trade scale took a rapid expansion. And the cooperation domain of domestic oil and gas with foreign expanded continuously.
The one of most crucial factors which propped up PetroChina to achieve stable and increase production is technological innovation and scientific and technological progress. In the “Eleventh Five Year”, China Petroleum has researched and developed 20 major core supporting technology with international competitiveness, more than 10 major equipment and software & a series of independent innovation products. In Oil and gas exploration and development, the overall technological level continued to maintain a domestic leading position and international leading position in advantage technology.
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