China's oil and gas output exceeds 400 million tons in 2024

China's oil and gas production in 2024 surpassed 400 million tons of oil equivalent (TOE) for the first time, according to data released on Monday by the National Energy Administration (NEA).

Crude oil output reached 213 million tons, an increase of 24 million tons compared with 2018, with annual growth exceeding 10 million tons for eight consecutive years. Natural gas production hit 246.4 billion cubic meters (bcm), achieving an average annual increase of more than 13 bcm over the past six years, the NEA said.

Offshore and unconventional reserves were key contributors to this growth. Offshore oil and gas production surged to more than 85 million tons of TOE, while shale oil output climbed to 6 million tons, a year-on-year increase of more than 30 percent. Shale gas production remained robust at more than 25 bcm.

Technological advancements played a pivotal role in driving output. The NEA highlighted significant progress in marine oil and gas engineering, including the deployment of Asia's first deepwater jacket platform, Haiji-2, and the region's first cylindrical floating production storage and offloading vessel, Haikui-1. These innovations have bolstered China's deep-sea exploration capabilities.

The sector also advanced its green transition, integrating exploration and production processes with renewable energy. Clean energy increasingly replaced traditional power sources in oil and gas operations. For instance, Sinopec's Jiangsu oil field adopted wind-solar hybrid power systems, reducing annual carbon monoxide emissions by 1.18 million tons.

Key production bases across the country continued to demonstrate steady growth. The Ordos Basin in North China's Inner Mongolia Autonomous Region maintained its position as the nation's largest oil and gas production area, delivering 97.5 million tons of TOE. Newly proven coalbed methane reserves in the basin exceeded 100 bcm.

Northwest China's Xinjiang Uygur Autonomous Region also played a crucial role, producing 66 million tons of TOE in 2024. The region achieved a milestone with the Take-1 well, China's ultra-deep oil well, which set a record as Asia's deepest vertical well, surpassing a depth of 10,000 meters.