CNPC to triple foreign oil output

China National Petroleum Corporation (CNPC) plans to triple overseas crude and gas production in 8 to 10 years as part of its ambitious push to become a real international player.
The parent of PetroChina has planned to produce 200 mm tons or 4 mm bpd of oil equivalent in its foreign operations by that time, according to company officials.

CNPC, which often allies itself with foreign partners to explore overseas blocks and shares commercial findings, was entitled to 40.1 % of its foreign oil production in 2007.
Based on the proportion, it would be able to get 80 mm tons or 1.6 mm bpd of oil equivalent before 2020 from overseas fields, or nearly three-quarters of its current domestic crude production.

CNPC planned to produce 68.5 mm tons of crude, 7.26 bn cm of natural gas in overseas fields in 2009, which combined would represent an increase of 10 % from last year.
In 2008, CNPC's overseas oil and gas production gained 3.3 % after rising 10.3 % in 2007.