BEIJING, Oct. 20, 2009 (Xinhua News Agency) -- CNPC's Daqing Oilfield has set a target for its equipment-manufacturing arm to gain 10 billion yuan of production value.

The target is one part of the Daqing Oilfield's plan to maintain its annual oil and gas production at 400 million tons of oil equivalent before 2020.

Currently, Daqing's equipment manufacturing sector, including the manufacturing of drilling rigs, special vehicles and pumps, is able to produce 2.2 billion yuan of value.

The Daqing oilfield is China's largest by production, but the aging oilfield has been suffering from stagnant production growth in recent years.

CNPC is the parent company (OOTC:KIDSQ) of PetroChina (PTR.NYSE; 0857.HK; 601857.SH).