We achieved continuous and steady growth in oil production and rapid growth in natural gas production.

By the end of 2007, We has developed 6 large-scale oil and gas fields with equivalent production exceeding ten million tons. Particularly, the Daqing Oilfield Company remained the leader amongst domestic oil companies, with an annual crude oil production of 41.62 million tons. The Changqing Oilfield Company became the second largest oil/gas field for PetroChina with gas production exceeding 10.0 billion m3 and oil/gas equivalent production exceeding 20.0 million tons for the first time. The Tarim Oilfield Company became the largest natural gas production base in China, with the annual production of natural gas exceeding 15.0 billion m3. In 2007, the Jidong Oilfield achieved an oil production output of 2.13 million tons, 420,000 tons more than that in 2006.

In 2007, 806 horizontal wells were drilled, contributing significantly towards oil well stimulation.Pilot alkali-surfactant-polymer flooding in the Daqing Oilfield obtained an initial effect, forming a 10-million-ton production scale by “tertiary oil recovery” . The Liaohe Oilfield saw great advance in steam flooding and SAGD for heavy oil, resulting in the enhancement of recovery ratios by 20% to 30%. The Sulige Gas Field in Changqing obtained remarkable results in technological
projects aiming at enhancing single-well production and cutting development costs, with 12 supporting techniques developed, which greatly contributed to the scaled and effective development of low-permeability and low-yield gas fields, driving gas production to exceed 10 million m3/day.

As for the oilfields characterized by high water cuts and high recovery percentages, PetroChina initiated a secondary development project, in order to ultimately increase recovery ratios. By “restructuring the geology prospecting system, rebuilding well networks and redesigning surface technical processes” , PetroChina improved mature oilfields that have been recovered for over 20 years to enhance recovery ratio.

 On December 26, 2007, two enterprises were awarded the Grand Prize for China's Enterprises at an awarding ceremony. PetroChina Daqing Oilfield Company was one of them.

The Grand Prize for China's Enterprises, a general prize for China,s industrial enterprises, was sponsored by 12 industrial associations including the China Federation of Industrial Economics.

Adhering to the concept of devoting to the nation,s development, respecting science and technology as well as technical innovation, the Daqing Oilfield has achieved sustainable development and high and stable production for 27 consecutive years. The company was privileged about being an example to follow amongst its global peers while also contributing to China's economic development.