【ECF Weekly】The Energy Law emphasizes shale development
ECF China Shale Week Report - Nov 16, 2024
【The Energy Law emphasizes shale development】
On November 8, the Energy Law of the People's Republic of China was deliberated and adopted at the 12th meeting of the Standing Committee of the 14th National People's Congress. It was formally introduced and will come into force on January 1 next year. It is a fundamental and overarching law in China's energy sector, filling the legislative gap. Among them, it is required to adhere to the equal emphasis on onshore and offshore oil and gas development, and encourage the large-scale development of unconventional oil and gas resources such as tight oil and gas, shale oil, shale gas, and coalbed methane.
Exploration & Production
【Fuling shale gas production exceeds 70 billion cubic meters】
The first commercially developed large-scale shale gas field in China, the Fuling shale gas field, has produced over 70 billion cubic meters of shale gas since its launch. At present, the daily gas production of this gas field exceeds 20 million cubic meters, continuously delivering green and clean energy to over 200 million residents in more than 70 cities along the Yangtze River Economic Belt, contributing positively to ensuring national energy security and helping to achieve the "dual carbon" goals.
【Sinopec's latest shale gas well successfully completed】
Recently, with the support of drilling fluid technology from the Drilling Engineering Technology Research Institute of Zhongyuan Petroleum Engineering Company, the Yangye 64-2HF well was successfully completed, breaking the record for the longest open hole section of a 190.5mm diameter shale gas well by Sinopec.
Technology & Equipment
【The first coal rock gas well has successfully undergone sand fracturing test】
On November 8th, the first domestic coal rock reservoir carbon dioxide dry sand fracturing construction was successfully completed in the Su 5-4-35 well, marking a new technological breakthrough in the field of deep coal rock gas exploration, development and evaluation in China, and providing important technical references for green, low-carbon and efficient development to replace energy.
【PetroChina exploration equipment has been used in Changqing Oilfield】
On November 11th, China National Petroleum Corporation (CNOOC) successfully completed the core extraction operation for complex formations in key exploration wells in Changqing Oilfield using its latest developed Large Particle Wellbore Coring Instrument (HRCT). 27 core samples were obtained in one go, with a 100% recovery rate, and the core extraction results were accepted by Party A.
