ECF China Shale Week Report - Nov 23, 2024
【Adjustment of China's oil price rules】
Since the adjustment of domestic refined oil prices on November 6, 2024, the international market oil prices have fluctuated. According to the current domestic refined oil price mechanism, the average price of the first 10 working days on November 20 is less than 50 yuan per ton compared to the average price of the first 10 working days on November 6. According to Article 7 of the Petroleum Price Management Measures, the prices of gasoline and diesel will not be adjusted this time, and the unadjusted amount will be added or offset in the next price adjustment.
Exploration & Production
【China adds 100 billion cubic meters of gas field】
Sinopec's Tongnanba gas field has added 55.159 billion cubic meters of natural gas with proven geological reserves, successfully approved by the Ministry of Natural Resources! So far, the accumulated proven geological reserves of natural gas submitted by the gas field have reached 106.6 billion cubic meters, becoming another billion cubic meter gas field in the Sichuan Basin. It has a positive significance in ensuring national energy security.
【Changqing's first special coal rock pressure fracturing project】
China Petroleum Bohai Drilling Downhole Technical Service Company has successfully completed the construction task of Suide 10H well, injecting a total of 3344m ³ of liquid carbon dioxide, 5063m ³ of fracturing fluid, a total sand volume of 1200m ³, and a maximum sand ratio of 65.2%. This well is the first time that the company has independently implemented carbon dioxide foam fracturing in the Changqing market. It provides an important test basis for multi cluster volume fracturing of 8 # coal seams in the Benxi Formation and subsequent construction of gas fracturing process system for coal and rock in the region.
Technology & Equipment
【Sinopec releases self-developed exploration equipment】
Recently, the Geological Measurement and Control Technology Research Institute independently developed a 200 ℃/172MPa high-temperature direct push remote detection instrument, which successfully completed the logging construction of BZ101HF well in Southwest work area for the first time using direct push storage mode.
【Multiple fracturing technology indicators have been refreshed in the field of deep coal, rock and gas】
On November 9, the Wushenqi Project Department of Changqing Downhole of Chuanqing completed the carbon dioxide foam fracturing construction of Huotan XX Well in the northeast region of Jiangsu Province, setting a new record for a series of technical indicators such as the single stage sand adding scale, average construction sand ratio, average foam mass ratio, single well sand adding intensity, and single well carbon dioxide consumption of the carbon dioxide foam fracturing process in the deep coal rock gas field.
Source: Energy China Forum
Jiangsu Oilfield has established a specializd team for ensuring the supply of shale oi materials, promoting a hard reduction in shale oil development costs
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