The proportion is as high as 78%! CNOOC became the main force in increasing domestic crude oil production in the first half of the year

China National Offshore Oil Corporation (hereinafter referred to as CNOOC) said that in the first half of this year, CNOOC exceeded the task of increasing domestic oil and gas reserves and production, and the increase in crude oil accounted for nearly eighty percent of the national increase, and the production and operation performance hit a record high, handing in a brilliant mid-year report card. Wang Dongjin, chairman of CNOOC, said that in the second half of the year, CNOOC Limited will anchor various goals and tasks, promote the increase of reserves and production with a stronger sense of responsibility and greater efforts, deepen reform and innovation, strengthen market development, promote cleaner production, go all out to complete the annual production and operation tasks, and strive to achieve a good start of the "14th Five-Year Plan".

In the first half of the year, CNOOC Limited promoted the implementation of the "Seven-Year Action Plan", and more than half of the domestic oil and gas reserves and production were realized, and more than half of the tasks were realized, with remarkable results. In terms of output, CNOOC's oil and gas production increased more than expected in the first half of the year, and domestic crude oil production increased by 1.84 million tons year-on-year, accounting for 78% of the country's crude oil increase, becoming the main force in increasing oil and gas reserves and production. By promoting key capacity construction projects, six projects, including the "Shenhai No. 1" gas field and the Caofeidian 6-4 oilfield, have been safely put into production. In particular, the commissioning of the "Shenhai No. 1" ultra-deepwater gas field marks a historic leap from 300 meters to 1,500 meters in China's offshore oil and gas exploration and development.

In terms of reserves, CNOOC Limited has continued to increase its domestic oil and gas exploration efforts, and has achieved fruitful results in oil and gas exploration. In the first half of the year, a total of 9 exploration discoveries were made and 14 oil and gas structures were successfully evaluated. In the Bohai Sea, the Kenli 10-2 structure was efficiently evaluated, and the proven geological reserves were nearly 100 million tons; In the South China Sea, the Baodao 21-1 structural test obtained a high-yield gas flow, which initially showed the prospect of 100 billion cubic meters of natural gas reserves. The exploration and discovery of this series of large and medium-sized oil and gas fields has laid a solid foundation for China's oil and gas production and further enhanced the ability to guarantee oil and gas resources. In the first half of the year, the main cost of oil per barrel was US$28.98, and the operating cost of oil per barrel was US$7.31, further consolidating its cost competitive advantage.

In the second half of the year, CNOOC Limited will focus on its main oil and gas business, adhere to the principle of "simultaneous development of oil and gas and tilt towards gas" in the field of exploration, focus on the construction of a trillion-dollar atmospheric area in the South China Sea, increase investment in exploration, deepen basic research, strengthen technical research, coordinate unconventional natural gas exploration, and actively promote the integration of exploration and development. The development and production will adhere to the efficiency of the output as the center, and strive to achieve the new goal of year-on-year increase in domestic crude oil and natural gas production.

In the process of developing offshore oil and gas resources, CNOOC Limited has resolutely fought the battle of key core technologies, and the supporting role of technology in production and operation has been further enhanced. In the first half of this year, CNOOC Limited supported the new oil and gas production of more than 1,500 tons of oil equivalent through the implementation of the "Seven-Year Action Plan" to increase reserves and production.

The "Shenhai No. 1" gas field, which was put into operation on the eve of July 1 this year, is an important achievement of CNOOC Limited in deepwater oil and gas development technology. In the process of developing the gas field, three world-class innovations have been achieved, 12 key core technical problems have been overcome, and the autonomy rate of key equipment of China's deepwater semi-submersible platform has been greatly improved. In May this year, China's first self-developed shallow underwater Christmas tree system was successfully tested in the Bohai Sea, breaking the technological monopoly of Western oil companies. Compared with similar foreign products, the weight of the system is reduced by 40% and the cost is reduced by 30%. In the field of drilling, CNOOC Limited has won the "crown jewel" of drilling technology, and the rotary steerable and logging-while-drilling technology has achieved full-specification and full-function operation capability coverage, the success rate of one-time well entry has increased from 79% to 90%, and the operation cost of a single well has been reduced by 45% compared with imported technology.

In order to speed up the construction of the natural gas production, supply, storage and marketing system, CNOOC Limited has conquered the core technology of ultra-large LNG (liquefied natural gas) storage tanks, and the construction of the world's largest 270,000 cubic meters full-capacity LNG storage tank independently designed by CNOOC Limited officially started in June this year, injecting new momentum into the implementation of the "double carbon" goal.

In the second half of the year, CNOOC Limited will serve the national strategy, actively undertake the research and development of key core technologies in China's offshore oil and gas field, and strive to build a "source of original technology" and a "chain length" of the modern industrial chain, so as to inject new vitality into the high-quality development of the offshore oil industry.

On the basis of the grid-connected power generation of the first offshore wind power project in 2020, CNOOC Limited has taken the initiative to comply with the trend of energy transition and change, continuously accelerate the pace of green and low-carbon transformation and development, and help achieve the "dual carbon" goal as soon as possible.

In the first half of this year, CNOOC Limited completed the preparation of the "dual carbon" implementation plan, improved the "14th Five-Year Plan" development plan, and further clarified the green and low-carbon transformation path. At the same time, it has successively established the New Energy Department and the Carbon Neutrality Research Institute of Co., Ltd., actively promoted the first offshore carbon dioxide storage demonstration project in China, and issued the country's first CCER (National Certified Carbon Emission Reduction) carbon neutrality service trust.

In addition, CNOOC Limited insists on promoting green production in offshore oilfields. In April this year, China's first offshore oilfield group shore power transformation project completed the offshore installation of all electric power platforms, which is the world's highest offshore oilfield AC transmission voltage and largest shore power project. By transmitting onshore onshore power to offshore oil fields through submarine high-voltage cables, the traditional mode of using oil and gas to generate electricity will be changed, and the emission of greenhouse gases and pollutants such as carbon dioxide will be greatly reduced.

According to statistics, after the introduction of shore power, the Qinhuangdao and Caofeidian oilfields save an average of about 64,700 tons of standard coal per year, which is equivalent to reducing carbon dioxide emissions by 170,000 tons and planting 17 million trees. At present, the project is accelerating and is expected to be officially put into operation in the second half of this year.

In the future, CNOOC Limited will focus on the "dual carbon" goal, implement the green development leapfrog project, accelerate the cultivation of new energy industries while focusing on energy conservation, consumption reduction and carbon reduction, and build a "zero-carbon oil" industrial chain, explore new integrated development models such as "wind and solar power generation + oil and gas industry", "wind and solar power generation + natural gas power generation" and "offshore wind power + marine ranching", promote the transformation of green energy and accelerate the industrial structure from a single traditional oil and gas to a green and low-carbon energy system.

Disclaimer: The above content is reprinted from Petroleum Link