China Petroleum Exploration ›› 2020, Vol. 25 ›› Issue (1): 11-19.DOI: 10.3969/j.issn.1672-7703.2020.01.002

• EXPLORATION STRATEGY • Previous Articles     Next Articles

Oil and Gas Exploration Progress and Upstream Development Strategy of Sinopec

Cai Xunyu1, Liu Jinlian1, Zhao Peirong1, Liu Chaoying2, Cheng Zhe2   

  1. 1 Department of Oilfield Exploration & Development, Sinopec;
    2 Research Institute of Petroleum Exploration & Development, Sinopec
  • Received:2019-10-17 Revised:2019-12-20 Online:2020-01-15 Published:2019-12-31
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Abstract: Since the strategic reorganization of Sinopec, the company’s upstream resources strategy has been steadily promoted, and a development pattern has been established: from east to west; from oil to oil and gas; from conventional to unconventional, and new energy resources. This has formed a development trend of stable development of oil, rapid development of natural gas, orderly promotion of new energy resources, continuous optimization of the overseas oil and gas business, continuous improvement of supporting engineering technologies, and rapid advance of informatization and intelligent construction. Since 2016, remarkable achievements have been made in oil and gas exploration and development. Production and reserves in marine carbonate formations in the Tarim Basin and Sichuan Basin have achieved large-scale increases. Through fine exploration and development, benefit increase of reserves and production has been achieved in the eastern mature exploration areas. Exploration and development of clastic rocks in the central and western basins have realized benefit productivity construction. New breakthroughs have been made in the exploration and development of deep and normal-pressure shale gas in the Sichuan Basin. New progress has been made in overseas oil and gas exploration. Looking forward to the future, Sinopec takes safeguarding national energy security as its own responsibility, vigorously improving domestic oil and gas exploration and development, continuously optimizing overseas oil and gas exploration and development structure, accelerating construction of natural gas production, supply, storage and marketing systems, and actively promoting business development of new energy resources. The company will vigorously carry out high-quality exploration and benefit development, achieve large-scale reserves and production increase, and ensure successful achievement of the objectives of its ‘seven-year action plan’.

 

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