The report "Global Oil and Gas Exploration and Development Situation and Oil Company Dynamics (2023)" was released

On October 9, the National Oil and Gas Strategic Research Center, PetroChina Research Institute of Petroleum Exploration and Development, and PetroChina International Exploration and Development Co., Ltd. released the report "Global Oil and Gas Exploration and Development Situation and Oil Company Dynamics (2023)" (hereinafter referred to as the report) in Beijing. Ren Jingdong, member of the party group and deputy director of the National Energy Administration, and Zhang Daowei, member of the party group and deputy general manager of China National Petroleum Group, attended the press conference.

According to the report, in 2022, international oil prices will fluctuate at a high level, and upstream investment will continue to rebound. Global investment in oil and gas exploration reached US$48.3 billion, an increase of RMB7.4 billion from 2021, showing a gradual return to pre-pandemic exploration investment levels. In 2022, global oil and gas production will reach 7.92 billion tons of oil equivalent, an increase of 210 million tons of oil equivalent year-on-year, and the increase in oil and gas will account for half of each.

As the main force in increasing oil and gas reserves and production in recent years, deepwater oil and gas resources have contributed significantly to the global oil and gas supply security. According to the report, in 2022, the world's conventional large and medium-sized oil and gas discoveries will be concentrated in the deepwater and ultra-deepwater fields, and 21 large and medium-sized oil and gas fields will be discovered in the global deepwater and ultra-deepwater fields, with recoverable reserves of 2.006 billion tons of oil equivalent, a year-on-year increase of 86.42%.

The development potential of global oil and gas resources is huge, and the prospects for China's oil companies to "go out, go in, and go up" are still broad. The report suggests that China's oil companies should give full play to their comparative advantages, learn from the experience of cooperation, and vigorously implement pilot tests for oil and gas enhanced oil and gas recovery development based on the development of onshore conventional oil and gas fields along the "Belt and Road". Improve the capacity of offshore oil and gas operations, promote the economical and efficient development of compact/shale oil and gas, continuously improve overseas core competitiveness and enhance core functions, effectively ensure national energy security, and meet the people's energy needs for a better life.Some academicians of the Chinese Academy of Sciences and the Chinese Academy of Sciences and more than 200 representatives from the Ministry of Natural Resources, PetroChina, Sinopec, CNOOC and other units attended the press conference.