Country Report

China upstream summary

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31 May 2019

China upstream summary

Report summary

The National Oil Companies step up exploration and development activities - Oil and gas import dependency climbed to 70% and 45% in 2018, respectively. To boost energy security, the Chinese government mandated the NOCs to lift domestic output. The NOCs are upgrading domestic reserves and production targets. Higher-risk exploration will evaluate unconventional and deepwater resource potential. Commercially marginal projects may be sanctioned in the push for increased supply. Domestic gas ...

Table of contents

  • Executive summary
  • Key facts
  • Location maps
  • Key companies
    • Introduction
      • Offshore
      • Onshore
    • Licensing
    • Recent licensing
    • Historic licensing
    • Drilling
      • Drilling activity
      • Future drilling plans
    • Liquids
    • Gas
    • Liquids
    • Gas
    • Introduction
    • Oil infrastructure
      • Northwest China
      • North and Northeast China
    • Gas infrastructure
      • West East gas infrastructure
      • North/Central China
      • Southwest China
      • Offshore China
    • Introduction
    • Capital costs
      • Capital expenditure by location
    • Key legislation
    • Regulatory body
      • State Council
      • National Development Reform Commission (NDRC)
      • Ministry of Land and Resources (MLR)
      • Ministry of Commerce (MOFCOM)
      • Others
    • State oil company
      • China National Petroleum Corporation (CNPC)
      • China Petrochemical Corporation (Sinopec Group)
      • China National Offshore Oil Corporation (CNOOC)
    • State participation
    • Licensing
    • Joint Study Agreements
    • Overview
      • Upstream
      • Midstream
    • Current fiscal terms
    • Production Sharing Contracts
      • State Equity Participation
      • Bonuses, Rentals and Fees
      • Resource Tax & Royalty Surcharge
      • Royalty
      • Value Added Tax (VAT)
      • Export Oil Levy
      • Domestic Market Obligation
      • Product Pricing
      • Cost Recovery
      • Profit Sharing
      • Corporate Income Tax
      • Special Oil Levy (Windfall Profit Tax)
      • Abandonment cost
      • Dividend Withholding Tax
      • Fiscal/Contractual Ring Fences
      • Sample Cash Flows
      • Marginal Government Take
    • Concession (State Company Operations)
      • CNOOC Ltd
      • PetroChina/Sinopec

Tables and charts

This report includes 67 images and tables including:

  • Key facts: Table 1
  • Country Map
  • Remaining Commercial and Technical Reserves at 01/01/2019
  • Liquids and Gas Production 2019
  • Remaining and Produced Liquids and Gas Reserves
  • Exploration: Table 1
  • Commercial Liquid Reserves by Sector
  • Commercial Liquid Reserves by Basin
  • Commercial Gas Reserves by Sector
  • Commercial Gas Reserves by Basin
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Liquids Production by Sector
  • Production: Table 1
  • Production: Table 2
  • Liquid Production by Basin
  • Production: Table 3
  • Production: Table 4
  • Liquids Production by Development Status
  • Production: Table 5
  • Production: Table 6
  • Production: Table 7
  • Production: Table 8
  • Gas Production by Region
  • Production: Table 9
  • Production: Table 10
  • Gas Production by Basin
  • Production: Table 11
  • Production: Table 12
  • Gas Production by Development Status
  • Production: Table 13
  • Production: Table 14
  • Production: Table 15
  • Production: Table 16
  • Oil Pipeline Systems in China
  • Infrastructure: Table 1
  • Gas Pipeline Systems in China
  • Infrastructure: Table 2
  • Policy and regulation: Table 1
  • Policy and regulation: Table 2
  • Map of Basins
  • China Map of Regions
  • Capital Expenditure by Region (US$ Million)
  • Costs: Table 1
  • Costs: Table 2
  • Costs: Table 3
  • Costs: Table 4
  • Fiscal terms: Table 1
  • Fiscal terms: Table 2
  • Fiscal terms: Table 3
  • Fiscal terms: Table 4
  • Fiscal terms: Table 5
  • Fiscal terms: Table 6
  • Fiscal terms: Table 7
  • Fiscal terms: Table 8
  • Fiscal terms: Table 9
  • Fiscal terms: Table 10
  • Fiscal terms: Table 11
  • Fiscal terms: Table 12
  • Fiscal terms: Table 13
  • Fiscal terms: Table 14
  • Fiscal terms: Table 15
  • Fiscal terms: Table 16
  • Fiscal terms: Table 17
  • Fiscal terms: Table 18
  • Fiscal terms: Table 19
  • Fiscal terms: Table 20

What's included

This report contains:

  • Document

    Country Overview

    PDF 23.72 MB

  • Document

    Country Overview

    XLS 1.16 MB

  • Document

    Country Overview

    ZIP 23.71 MB

  • Document

    Executive summary

    PDF 701.17 KB

  • Document

    Key facts

    PDF 684.32 KB

  • Document

    Location maps

    PDF 5.42 MB

  • Document

    Key companies

    PDF 712.17 KB

  • Document

    Geology

    PDF 10.32 MB

  • Document

    Exploration

    PDF 722.33 KB

  • Document

    Reserves and resources

    PDF 822.56 KB

  • Document

    Production

    PDF 825.18 KB

  • Document

    Infrastructure

    PDF 10.17 MB

  • Document

    Costs

    PDF 744.76 KB

  • Document

    Policy and regulation

    PDF 736.38 KB

  • Document

    Fiscal terms

    PDF 782.22 KB

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