【ECF News】Opportunities in China Shale Gas & Oil - Energy China Forum (ECF) 2019 9th Asia-Pacific Shale Gas & Oil Summit News Release
Opportunities in China Shale Gas & Oil
- Energy China Forum (ECF) 2019 9th Asia-Pacific Shale Gas & Oil Summit News Release
Energy China Forum 2019 9th Asia-Pacific Shale Gas & Oil Summit was successfully held on 25-27 September 2019 in Shanghai. This summit was jointly hosted by Shanghai United Institute for Unconventional Resources (SUI) and Shanghai Energy Economy Committee of SEA and supported by co-organizers China Petroleum Enterprises Association and Coordinating Committee for Geoscience Programmes in East and Southeast Asia.
Shale gas & oil industry in Asia-Pacific has become an emerging market with fast growing resources. As a leading shale player in Asia-Pacific, China has been proved with great resource potential, high government support and increasing operations in its shale gas & oil. Themed of “Opportunities in China Shale Gas & Oil”, ECF2019 Summit addressed the current shale gas & oil development in all Chinese major shale plays, policy development, and technology advances & demands for this emerging market.
In order to achieve the fast and efficient development of unconventional oil & gas, China is going to promote exploration and production, to promote technology innovation and equipment R&D, and to expand market access to private and overseas sector, according to the representative from China’s National Energy Administration. Representatives and officials from Energy Research Institute of NDRC and Appraisal Center for Environment & Engineering, Ministry of Ecology and Environment also shared China’s oil & gas policy and unconventional oil & gas environment regulations during the summit
Shale Revolution – China Is on Its Way
China has currently developed 5 shale gas fields in Sichuan Basin, with proved reserves of 1045.5 BCM, according to Hu Dongfeng, Chief Geologist of Sinopec Exploration Company. He pointed out that there are great potential of continental shale gas resources in the Sichuan Basin and breakthroughs have already been made in Yuanba and Fuling area. He expected that China is working hard to achieve strategic breakthroughs in shale gas exploration in the deep layers and outside of the Sichuan Basin as soon as possible.
PetroChina pioneered the industrial development of China's continental shale oil and made a game-changing discovery in the Bohai Bay Basin. By end of August 2019, PetroChina Dagang Oilfield Company has developed 2 shale oil horizontal wells with over 400 days stable production at 15-25 m3/d per well, which marks the beginning of China shale oil revolution. According to Zhao Xianzheng, General Manager of PetroChina Dagang Oilfield Company, 680 milllion mt of shale oil sweet-spot resources in Cangdong Depression of Bohai Bay has been confirmed and 59 more wells are planned in recent period to achieve further industrial development of shale oil.
China's mud-shale oil has wide distribution, diversified layers huge resource potential. It is one of unconventional oil and gas and also has extensive exploration prospects, according to Kang Yuzhu, Academician of Chinese Academy of Engineering.
More public-listed companies and global oil & gas players participated ECF2019 Summit and shared their strategy and insight about China’s shale opportunities, including Sinopec Oilfield Equipment Corporation, Honghua Group, BHGE, Solvay, PJSC Gazprom, IHS Markit. Rystad Energy, Shanghai SK, etc.
Dr. Young Joo LEE, Director of Coordinating Committee for Geoscience Programmes in East and Southeast Asia (CCOP) Technical Secretariat, shared the unconventional oil & gas development and geosciences projects & cooperation in East & Southeast Asia.
Ms. Shaw Zhang, Executive President of Energy China Forum, pointed out that China's shale oil and gas market is accelerating its diversified development with participation of more social entities and emerging forces playing a positive role. And Energy China Forum has become an important force driving this diversification process.
Technology Innovation – Driving Force for China Shale
From cost-reducing to efficiency increasing, technology innovation has become a major driving force for China’s shale development.
ECF2019 4th Oil and Gas Tech Innovation Award Ceremony took place during the summit. Initiated by Shanghai United Institute for Unconventional Resources and the Coordinating Committee for Geoscience Programmes in East and Southeast Asia (CCOP). This award aims to recognize and reward innovative technologies and products that has the potential to make significant contributions towards the oil and gas industry.
A total of 5 technical entries have been awarded this honor:
1. Fully Dissoluble-High Strength Temporary Blocking Agent and Chemical Packer
Awarded: Stimulation & EOR Technology
Submitted by: Beijing Gepetto Oil Technology Co. Ltd.
2. Breakthrough and New Techniques for Shallow Shale Gas Exploration in Zhaotong Demonstration Area
Awarded: Exploration & Production Technology
Submitted by: PetroChina Zhejiang Oilfield Company
3. Enriched Layer Identification and Reconstruction of Continental Shale Oil in Huanghua Depression
Award: Exploration & Production Technology
Submitted by: PetroChina Dagang Oilfield Company
4. GW-CPT Pressure Keeping Coring Tool
Awarded: GW-CPT Pressure Keeping Coring Tool
Submitted by: CNPC Greatwall Drilling Company
5. SK-3Q06 FID Gas Chromatograph
Awarded: Exploration & Production Technology
Submitted by: Shanghai Shenkai Petroleum Science & Technology Co., Ltd.
ECF2019 9th Asia-Pacific Shale Gas & Oil Summit has become an inspiration and a dominant platform for all of the industry who continue working in the unconventional oil and gas industry in China, Asia-Pacific region and the rest of the world.
Energy China Forum (ECF) is proud to announce that ECF2020 10th Asia-Pacific Shale Gas & Oil Summit will be held in September 2020 in Shanghai, China and glad to invite all global players to witness the 10th anniversary for China shale gas development and seek more opportunities.
For more details and updates, please visit www.energychinaforum.com.