China Petroleum Exploration ›› 2020, Vol. 25 ›› Issue (1): 1-10.DOI: 10.3969/j.issn.1672-7703.2020.01.001

• EXPLORATION STRATEGY •     Next Articles

Oil and Gas Exploration Progress and Upstream Development Strategy of CNPC

Li Luguang1, He Haiqing2, Fan Tuzhi2, Liu Henian3, Yang Tao4, Wan Lunkun4, Huang Fuxi4, Li Zhi4   

  1. 1 PetroChina Company Limited;
    2 PetroChina Exploration and Production Company;
    3 PetroChina International Exploration and Production Company Limited;
    4 PetroChina Research Institute of Petroleum Exploration & Development
  • Received:2019-12-14 Revised:2019-12-31 Online:2020-01-15 Published:2019-12-31
  • Supported by:
     

Abstract: In recent years, the China National Petroleum Corporation (hereinafter referred to as CNPC) has made 13 major breakthroughs and new strategic discoveries and formed 10 large hydrocarbon provinces with reserves of over 100 million tons by following the principle of efficient exploration relying on domestic and expanding overseas markets. . Based on important domestic and foreign exploration progress since the beginning of the ‘13th Five-Year Plan’ period, and in view of the current situation and requirements at home and abroad, comprehensive analysis of the oil and gas resources situation in the CNPC mining rights blocks, the development potential of remaining resources and the challenges faced by the upstream business has been carried out. This has also clarified the general train of thought and strategic targets of CNPC's upstream business for the future: CNPC will adhere to steady development guidelines and high-quality development goals, and will implement strategies to find more oil and gas resources, the domestic upstream segment will reinforce exploration and development by focusing on the seven major basins, paying equal attention to oil and gas resources, and putting conventional and unconventional resources on an equal footing, the strategic target is to achieve annual newly increased proven petroleum geological reserves of more than 1.1 billion tons of oil equivalent in the period from 2019 to 2025, and to achieve oil and gas production of 220 million tons of oil equivalent by 2025; In overseas markets, CNPC will focus on conventional oil and gas resources, optimize the development of five cooperation zones (Central Asia-Russia, the Middle East, Africa, the Americas, and Asia-Pacific) and expand the scale of ‘Belt and Road’ cooperation. Five measures have been proposed to ensure the realization of these strategic targets, which include reinforcement of domestic exploration and development, implementation of high-quality and efficient development overseas, promotion of scientific and technological innovation, deepening of reform and management innovation, and strengthening of the fostering of high quality talent teams specializing in petroleum exploration and development.

 

Key words: oil and gas resources, exploration progress, exploration potential, exploration strategy, CNPC

CLC Number: