Annual oil output to exceed 200 mln tons after 2010

China’s annual oil output is expected to surpass 200 million tons in the 2010-2015 period, and the production capacity will last for at least 15 years, a senior official with the Ministry of Land and Resources said here on Saturday.

Addressing a forum on China’s energy market building and energy risk control, Che Changbo, deputy director of the ministry’s Oil and Gas Resources Strategic Research Center, said China’s proven oil reserve would increase 800 million to one billion tons a year on average between 2005 and 2020.

China VIew