| A series of major discoveries were made and many reserves confirmed in Bohai Bay, Ordos Basin, Sichuan Basin and Junggar Basin with the use of improved technologies, advanced oil geology theories as well as other advanced technologies including extensive 3D seismic data acquisition and 3D pre-stack time migration processing techniques.
Historic discovery of Jidong Nanpu Oilfield, PetroChina
The Jidong tidal zone was first explored in 1988, enjoying independent exploration by the company and cooperative exploration with foreign oil companies in the subsequent 14 years, without any material breakthrough. Since 2002, PetroChina has strengthened fine 3D seismic explorations in conjunction with other supporting techniques – i.e extensive pre-stack time migration processing and interpretation, extended reach well and horizontal drilling as well as MDT logging, so that a series of technical problems in geological exploration and engineering construction could be overcome. In September 2004, significant breakthrough was made in the exploration of Well Laopu South-1, with 700m3/d of high-yield oil stream obtained in Ordovician.
The oil stream gave a steady output of over 200 tons/day in the 22-month production test. With these efforts and after three years of exploration, four formations were discovered in the Jidong Nanpu Oilfield. The 3P oil/gas equivalent reserves, i.e. the proved reserves reviewed and verified by relevant state authorities and the probable and possible reserves verified by the Company, are up to 1.18 billion tons.
In the Jidong Nanpu Oilfield, the oil zone is thick, with an average single-well penetration thickness of 80-100m; single-well production is high 80~100 tons/day for vertical well and 200~500 tons/day for horizontal well; reserves are highly abundant up to 5.07 million tons/ km2;and physical properties of oil zone and oil quality favorable, with key target formations at buried depth of 1800m ~ 2800m.
The Jidong Nanpu Oilfield is the most exciting discovery in China’s oil history in the past 30 years. Particularly, its discovery is significant for implementing the state policy to “stabilize the east and develop the west” in the oil industry, realizing steady growth and sustainable development of crude oil production in China, and enhancing energy security in the country.
Additionally, it will boost economic and social development in the Jing-Jin-Tang region and even around Bohai Bay. |