ECF China Shale Week Report - Jan 25, 2025
【CUP layout in Hainan】
On January 8th, the China Geological Survey of the Ministry of Natural Resources announced a series of major breakthroughs in lithium exploration in China, with lithium reserves increasing from 6% globally to 16.5%, jumping from sixth to second in the world and reshaping the global lithium resource landscape.
Exploration & Production
【Major breakthrough in tight oil and gas development technology in Xinjiang oilfield】
The key technology for improving oil recovery efficiency through hydrocarbon gas drive after horizontal well pressure has successfully been selected as one of the top ten scientific and technological advances of Xinjiang Oilfield Company in 2024, achieving increased production benefits in tight conglomerate reservoirs. This marks a breakthrough in the first unconventional oil reservoir horizontal well pressure gas drive test area in China - the Ma 18 hydrocarbon gas test area
【Tarim Oilfield production exceeds 20 million tons】
The Tarim Oilfield, the largest ultra deep oil and gas production base in China, will achieve a new high of 20 million tons of oil and gas production equivalent from below 6000 meters in 2024.On January 19th, it was learned from China National Petroleum Corporation that the Tarim Oilfield, the largest ultra deep oil and gas production base in China, will produce an equivalent amount of oil and gas below 6000 meters in 2024, exceeding 20 million tons and reaching a new high of 20.47 million tons.
Technology & Equipment
【Major breakthrough in China's self-developed oil and gas equipment technology】
On January 17th, the 2000 meter level ultra deepwater oil production tree independently developed by CNOOC Engineering completed its final assembly in the "Qinghai" assembly workshop in Lingang, Tianjin, entering the system testing phase, marking the completion of the main construction of China's first 2000 meter level ultra deepwater oil production tree.
【Major breakthrough in Jereh fracturing equipment technology】
The "bi directional" key layer fracturing process jointly developed by Jereh Mechanical Equipment Co., Ltd. (hereinafter referred to as Jereh) and middling coal Xi'an Design Engineering Co., Ltd. (hereinafter referred to as middling coal), a wholly-owned subsidiary of Jereh, has been successfully applied in the key layer treatment project of Longwanggou Coal Mine of Datang Guoyuan Mining. This innovative breakthrough marks that the "dual directional" key layer fracturing technology and complete equipment in the underground of Jereh Coal Mine have reached the leading level in China.
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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