First breakthrough in the Cambrian formation of Qiongzhusi

BEIJING, October 24, 2022 /PRNewswire/ — Sinopec Southwest Oil & Gas Company of China Petroleum (“Sinopec Southwest”) & Chemical Corporation (HKG: 0386, “Sinopec”) has discovered new shale gas reserves in the deployed Jinshi 103HF exploration well in the Sichuan Bowl. With daily natural gas production reaching 258,600 cubic meters and an estimated resource capacity of 387.8 billion cubic meters, this is a major step forward for China shale gas exploration and the first discovery in the Cambrian Qiongzhusi formation. The discovery has significantly expanded shale gas reserves and will further promote shale gas exploration and production in the Sichuan Bowl.

The Sichuan The basin is made up of two main formations, the Longmaxi and the Qiongzhusi. The former has seen significant exploration and production activities, including China first deep shale gas field, Weirong, while Qiongzhusi has the greatest potential for future exploration. This breakthrough will provide a strong impetus for the expansion of shale gas exploration and development from a single formation to reach new formations and new types of fields, and will help build a national natural gas reserve. (shale gas) with a capacity of 100 billion cubic meters in the Sichuan and Chongqing Region.

Sinopec Southwest abandoned the traditional method of searching for shale gas in organic-rich black shale and set new assessment standards for Cambrian shale beds, leading to the discovery of the target layer of silty shale gas exploration. Facing the challenges of thin layer of shale, large difference in longitudinal stress and difficulty of large-scale transformation, the company implemented a new fracturing process and fracturing fluid system to achieve transformation of multi-stage fracturing.

Over the past decade, Sinopec Southwest has advanced oil and gas exploration and development, with major achievements including the completion of the world’s first ultra-deep, high-sulfur reef gas field, the Yuanba gas field and the identification of China first deep shale gas field, Weirong shale gas field. The company has established new reserves on a scale of more than 100 billion cubic meters, including the Hexingchang Xujiahe, Yongchuan Longmaxi and Jingyan Qiongzhusi formations. Its annual natural gas production has increased from 2.82 billion cubic meters in 2012 to 8.001 billion cubic meters in 2021, with a cumulative production of 52.95 billion cubic meters, making the subsidiary the largest producer of natural gas from the Sinopec group.

For more information, please visit Sinopec.

SINOPEC SOURCE

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