Oil and gas exploration of China Petroleum and Chemical Corporation during the 12th Five-Year Plan and the prospect for the 13th Five-Year Plan

Abstract

Abstract: China Petroleum and Chemical Corporation (“Sinopec”) has been highlighting the resource strategy and transforming the development mode since the initiation of the “12th Five-Year Plan”. In the past period, for purpose of efficient exploration, Sinopec made deeper researches on hydrocarbon accumulation in structures like marine carbonate, foreland thrust belts, vast lithologic-stratigraphic reservoirs, and marine deep gas and shale gas formations. Through continuously working on bottleneck technologies, Sinopec has developed a series of characteristic techniques for data acquisition and processing, optimal and fast drilling of extra-deep wells, and complicated reservoirs and reservoir evaluation. With these supporting technologies, Sinopec achieved great breakthroughs and progress in large-scale petroliferous basins like Sichuan, Ordos, Tarim, Junggar, Bohai Bay and East China Sea, and realized the goal of basically stable development of oil and rapid development of gas. During the 13th Five-Year Plan, under the new normal of economy and the increasingly complicated internal and external environments, Sinopec will have a long way to go for exploration. Currently, Sinopec’s prospects in the eastern China stay in a stable development stage, with an average proven rate of oil resources of 46.4%, and its prospects in the central and western China are still in the early exploration stage, where abundant potential resources provide the basis for sustainable development. By continuing the resource strategy, Sinopec will focus on large-scale basins to make great breakthroughs and discoveries and insist fine exploration in mature blocks to realize large-scale commercial discoveries. Moreover, Sinopec will promote efficient exploration by theoretical, technical and management innovations, so as to make new contributions to the sustainable development of Sinopec and guaranteeing the national energy security.

Key words: oil and gas exploration, geologic cognition, exploration engineering technology, efficient exploration, Sinopec, the 12^th Five-Year Plan, the 13^th Five-Year Plan

Feng Jianhui, Cai Xunyu, Mou Zehui, Gao Shanlin. Oil and gas exploration of China Petroleum and Chemical Corporation during the 12^th Five-Year Plan and the prospect for the 13^th Five-Year Plan[J]. China Petroleum Exploration, 2016, 21(3): 1-13.

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Oil and gas exploration of China Petroleum and Chemical Corporation during the 12^th Five-Year Plan and the prospect for the 13^th Five-Year Plan

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