China Shale News Review – May 10 , 2024
◊ Southwest Oil and Gas Field Achieves Major Breakthrough in Shale Gas Evaluation Well Cycle
On April 25th, it was learned from PetroChina Southwest Oil and Gas Field Company that the reservoir renovation construction of Well Wei 219 was successfully completed, and the total drilling and renovation period was 105 days ahead of the company’s operating plan, achieving a significant breakthrough in the shale gas evaluation well cycle.
◊ Major Breakthrough in Fracturing Technology of Fuling Shale Gas Atmospheric Block
Recently, the Jiaoye 159-3HF well in the normal pressure block of the Fuling shale gas field was tested and produced, achieving a daily production of 216000 cubic meters of gas flow, setting a record for the highest single well test production in the normal pressure block of the gas field. Compared with the previous highest test production in the normal pressure block, it has increased by more than 50%.
◊ The shale oil production in Jiqing Oilfield has reached a historic high
On May 4th, it was learned from PetroChina that China’s first national level terrestrial shale oil demonstration zone, the Jiqing Oilfield Operation Zone, achieved a historic high of 215000 tons of shale oil production in the first quarter of this year.
◊ Major Breakthrough in New Perforation and Fracturing Technology in Jilin Oilfield
The Oil and Gas Reservoir Transformation Technology Research Center of Jilin Oilfield Oil and Gas Technology Research Institute has innovatively adopted cluster perforation and fracturing technology. It is expected that the cost of single well perforation will decrease by 13000 yuan, the investment in single well perforation will be reduced by 37.6%, and the annual production capacity construction oil well fracturing and perforation cost will be reduced by 12-15 million yuan.
◊ Significant progress in PetroChina’s coalbed methane technology
Recently, PetroChina Coalbed Methane Company has effectively promoted the development of gas fields to a higher level through the dual drive of efficient production and long-term stable production. As of now, the company’s daily gas production and sales have increased by 12.25% and 13.79% year-on-year.
(Source: Energy China Forum)
