China's E&P investment increase boosts reserves

摘要

CHINA significantly boosted upstream exploration and production investment last year even though its oil production continued to follow a downward cycle. The country invested 63.7 billion yuan ($43 billion) in exploration and 203.1 billion yuan in production last year, respectively increasing by 8.9% and 24.7% on year, upstream watchdog the Ministry of Natural Resources revealed this week.