Sinopec sees overseas oil production at 43bn T by 2015: report

SHANGHAI: China Petroleum & Chemical Corp (Sinopec) , Asia's top oil refiner, expects its overseas oil production to reach 43 million tonnes and overseas gas output to hit 3-5 billion cubic meters by 2015, the 21st Century Business Herald reported on Thursday.

Sinopec owns 54 offshore exploration blocks, 27 of which are operated or joint-operated by the company. In 2010, total overseas production was 23 million tonnes, of which 4.3 million tonnes came from Nigeria, and 2.1 million tonnes from Angola.

Offshore oil and gas exploration would be the company's top priority in the future, the newspaper quoted Zhang Zhigang, senior engineer at Sinopec International Exploration and Production Corp (SIPI), as saying.