CHENGDU, China, April 25 (Reuters) - PetroChina (0857.HK) (601857.SS) will expand its Huabei refinery in northern China’s Hebei province to 200,000 barrels per day (bpd) of capacity following its 2007 discovery of the Jidong Nanpu oilfield, a company official said on Friday.
Huabei has crude processing capacity of 100,000 bpd.
“The local government in Hebei province is tending to reserve the crude oil produced at Nanpu for plants in the province,” said Song Aiping, a senior engineer with PetroChina’s planning institute.
Jidong Nanpu, the largest discovery in years in China, boasts proven reserves of 405.07 million tonnes of oil equivalent, or nearly 3 billion barrels. PetroChina aims to produce 200,000 bpd of oil from the field by 2012.
“PetroChina will expand the Huabei refinery to process crude from Nanpu, in line with production progress in the field,” Song told Reuters on the sidelines of an industry conference in Chengdu.
The company has not submitted any expansion plan to the central government for approval but Song said the expansion would likely take place in the five years through 2015. (Reporting by Jim Bai; Editing by Edmund Klamann)