【ECF Weekly】Sinopec Found New Shale Gas Resources

【 CNOOC Released the "Double Carbon Action Plan" 】 On June 29, CNOOC officially released its "carbon peak and carbon neutralization" action plan, aiming to achieve carbon peak in 2028 and carbon neutralization in 2050. The proportion of non-fossil energy production exceeds that of traditional oil and gas production, becoming the backbone to achieve China’s "double carbon" goal and ensure national energy security. For detailed information, please check  http://en.energychinaforum.com/news/detail/0_66022.html

【 CNPC Headquarters Departments Reduced by 25% and Personnel Downsized by 10% 】 CNPC has established and improved a new organizational system, reducing headquarters departments by 25%, departments by 20% and personnel by 10%.

 

【 Sinopec Found Trillions of Cubic Meters of Shale Gas Resources 】 On June 30, Xinye 1 well deployed by Sinopec in Qijiang, Chongqing, had a daily shale gas production of 530000 cubic meters, marking the implementation of 100 billion cubic meters of resources in Xinchang structure.

【 Drilling Depth of Hongye 4HF Well Exceeds 7000 Meters 】 Drilling of Hongye 4HF well, a shale gas exploration well in Hongxing area of Jianghan Oilfield, was successfully completed. The drilling depth of this well was 7080 meters, and the horizontal section was 2607 meters long. The penetration rate of high-quality reservoir is as high as 91.81% .

【 Southwest Oil and Gas Company Produces More than 4 Billion Cubic Meters of Gas 】 As of June 26, PetroChina Southwest Oil & Gas Company had produced 4.12 billion cubic meters of natural gas, a year-on-year increase of 10.45% . 

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