In China, rising oil and gas demand has given impetus to domestic upstream activity. The country wants to boost its own reserves, but will remain a significant oil importer.
China will see high levels of drillbit action on and offshore in 2004. PetroChina and Sinopec say there is large potential for onshore petroleum, while offshore leader CNOOC Ltd will be chasing barrels in Bohai Bay, and gas off the east and south coasts.
CNOOC
