The latest data from China National Energy Administration shows that crude oil production is expected to reach 215 million tons by 2025, setting a new historical high. During the 14th Five Year Plan period, China has achieved fruitful results in oil and gas exploration, with stable and increasing production, promoting China's oil and gas production to enter a new stage of simultaneous increase in quantity and efficiency and green development.

During the 14th Five Year Plan period, China has built a cumulative crude oil production capacity of 105 million tons. Among them, offshore crude oil has become an important "growth pole", accounting for over 60% of the country's new oil production for five consecutive years.

From the perspective of natural gas. China's natural gas production has achieved a growth of billions of cubic meters for nine consecutive years, and its position as the world's fourth largest natural gas producer continues to consolidate. It is expected that by 2025, the national natural gas production will reach 260 billion cubic meters, an increase of 35% compared to the end of the 13th Five Year Plan.

During the 14th Five Year Plan period, China added 1 billion ton oil field and 19 billion cubic meter gas fields. Accumulated newly discovered geological reserves of over 7 billion tons of oil and 7 trillion cubic meters of natural gas have increased by approximately 43% and 40% respectively compared to the 13th Five Year Plan period. At present, the scale of the national oil and gas pipeline network has reached 195,000 kilometers, and the formation of the national "one network" is accelerating.

Hu Jianwu, Deputy Director of the Petroleum and Natural Gas Department of China National Energy Administration: During the 14th Five Year Plan period, China's oil and gas exploration and development investment and workload continued to maintain historical highs, and technological innovation achievements continued to emerge. The oil and gas industry entered a new stage of increasing quantity and efficiency and green development, building a safer, more efficient, open, and resilient modern oil and gas production, supply, storage, and sales system, providing solid guarantees for national energy security and stable economic and social development.

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