(Yicai Global) July 30 -- The overseas oil and natural gas output of China National Petroleum will exceed 100 million next year, almost equal to its domestic production, according to the state-owned energy giant.

The output has been growing at a speed of 10 million tons per year, the Beijing-based company's media arm China Petroleum Daily reported. The firm has stakes in 92 oil and gas operations in 34 countries. During the past three years, its related overseas reserves grew by 230 million tons in total.

The firm has expanded its offshore engineering services business and next year, it eyes USD15 billion worth of new contracts and an operating income of USD12 billion. CNPC has nearly 1,400 engineering service teams 77 countries and regions, with an average annual value of new contracts reaching more than USD10 billion.

Last year, the domestic output of PetroChina, CNPC's listed arm, hit 1.3 billion barrel of oil equivalents last year, which equals to about 174 million tons, according to the firm's annual report.

Editor: Emmi Laine