China Petroleum & Chemical Corp. (Sinopec Corp.) and CNOOC Ltd have started expanding the production capacity of Pinghu natural gas field off Shanghai, China’s state media have reported. The CNY 1.7 billion expansion is being carried out by Shanghai Oil & Gas Corp., a joint venture between Sinopec and CNOOC. Gas production will be expanded to 2 million cubic metres a day by 2005 from the current 1.2 million cubic metres. The first phase of expansion is targeted for completion next year.
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