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Production of CNOOC to approach 170 mln barrels in 2006

  BEIJING, Jan. 31 (Xinhuanet) -- The China National Offshore Oil Corp. Limited (CNOOC Ltd.) has announced recently that its net production volume in 2006 will reach approximately 170 million barrels of oil equivalent (BOE).

   It will represent a nearly 9 percent increase over the 2005 level, says the company. Net production from offshore China is estimated to be 148 million to 149 million BOE in 2006, while the company's overseas output is expected to reach 21 million BOE.

  Ten projects offshore China are expected to start operation in 2006. The company also plans to invest 2.59 billion U.S. dollars in business and resource development throughout 2006, up 30 percent year on year.

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