2008 Output At Daqing - China's Largest Oil Field - Down 3.6% YOY

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BEIJING, Dec 31 (Reuters) - Crude oil output in PetroChina's (601857.SS) Daqing oilfield, China's largest, fell 3.6 percent from a year earlier to 40.2 million tonnes in 2008, or 804,000 barrels per day, Xinhua News Agency reported on Wednesday. Natural gas output in the field, run by PetroChina (0857.HK) (PTR.N), the listed arm of state oil giant CNPC, reached 2.76 billion cubic metres, according to the report on www.xinhuanet.com.cn.

Daqing accounts for more than a third of PetroChina's domestic oil production, which was 107.64 million tonnes in 2007. Its importance in the firm's gas output is much less, making up 5 percent of last year's 54.2 billion cubic metres.

The field alone is responsible for more than one fifth of China's total oil production, which CNPC expects to reach 189 million tonnes in 2008.

Annual oil output at Daqing has been on the decline for several years after decades of production. Its crude output in 2007 was 41.7 million tonnes, down 3.7 percent on 2006, when production declined 3 percent.

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http://www.reuters.com/article/rbssEnergyNews/idUSPEK34338120081231