Sinopec: Progress in Oil and gas exploration during the 13th Five-Year Plan period and prospects for the 14th Five-Year Plan period#br#
#br#

doi:10.3969/j.issn.1672-7703.2021.01.003

Abstract

Abstract: Over the past five years, Sinopec has vigorously promoted high-quality exploration. This paper explains the basis for
development planning for the 14th Five-Year Plan period, summarizes the achievements of China Petroleum and Chemical Corporation (Sinopec) in different exploration fields during the 13th Five-Year Plan period and analyzes new understandings of hydrocarbon accumulation theories and new technological progress. The 13th Five-Year Plan period has been marked by the discovery and cultivation of two 100-million-ton-level oil and gas fields, in carbonate rocks in the Tarim Shunbei oilfield and the Fuling shale gas field in the Sichuan Basin. Six large-scale oil and gas reserves increase positions with billion-ton-levels have also been proved. These achievements have largely been the results of developments in hydrocarbon accumulation theories, ‘sweet-spot’ prediction technology, and low-cost engineering technology in the fields of marine carbonate rocks in the three giant basins of the central and western regions, tight gas and deep (greater than 3500 m in depth) and normal pressure shale gas in the Sichuan Basin, complex and subtle oil and gas reservoirs in the eastern mature exploration areas, and tight oil and gas in clastic rocks in the central and western regions. By comprehensively studying the current status of oil and gas resources, the company has defined development ideas and measures for the 14th Five-Year Plan period. The principal objectives are high-quality development under long-term low oil prices, enhancing exploration efforts, expanding resource types, highlighting exploration across whole plays, invigorating low-grade resources, and accelerating major breakthroughs and discoveries. The goal is to increase proven oil and gas geological reserves by 9.6×108 t and 1.16×1012 m3, respectively. To ensure this goal is achieved, five basic measures are proposed: continuously increasing exploration investment, increasing seismic exploration, strengthening risk exploration, enhancing scientific and technological innovation, and improving engineering technology.

CLC Number:

Cai Xunyu, Liu Jinlian, Zhang Yu, Zhao Peirong, Liu Chaoying, Cheng Zhe, Zhu Tong, Xu Huaming. Sinopec: Progress in Oil and gas exploration during the 13th Five-Year Plan period and prospects for the 14th Five-Year Plan period#br# #br#[J]. China Petroleum Exploration, 2021, 26(1): 31-42.

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Sinopec: Progress in Oil and gas exploration during the 13th Five-Year Plan period and prospects for the 14th Five-Year Plan period#br# #br#

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