Discovered in 1959, this field has produced over 10 billion barrels (1.6 km³) of oil since 1960. Daqing contained 16 billion barrels (2.5 km³) or 2.2 billion tons in the beginning; the remaining recoverable reserves is about 3.6 billion barrels (572,000,000 m³) or 500 million tons. The current production rate is about 1 million barrels (160,000 m³) per day, making it the fourth largest productive oil field in the world.
Daqing Oilfield Company Limited, based in Daqing, is the operator of exploration and development in Daqing Oilfield. From 2004, the company plans to cut its crude oil output by an annual 7% for the next seven years to extend the life of Daqing.
Daqing complex is the largest oil field in the People's Republic of China (PRC), located between the Songhua river and Nunjiang river in Heilongjiang province.
Daqing contained 16 billion barrels (2.5 km³) or 2.2 billion tons in the beginning; the remaining recoverable reserves is about 3.6 billion barrels (572,000,000 m³) or 500 million tons.
Daqing Oilfield Company Limited, based in Daqing, is the operator of exploration and development in Daqing Oilfield.
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