Zhongyuan Field Launches All-Round Effort to Increase Reserves & Production

Source: www.gulfoilandgas.com 9/14/2021, Location: Asia

Zhongyuan Oilfield earnestly implemented the requirements of the group company to study and implement the spirit of General Secretary Xi Jinping’s "July 1" important speech, and comprehensively carried out the "winning the battle to increase reserves and increase production efficiency" in the first 8 months of this year. The cumulative production of natural gas was 4.549 billion cubic meters, a year-on-year increase of 11%, and the production of sulfur was 1.2211 million tons, a year-on-year increase of 9.57%. The oilfield achieved overall profitability.

Faced with the severe situation that it is difficult to complete natural gas production and operation indicators, on August 17, Zhongyuan Oilfield comprehensively deployed the "Winning the Tough Battle for Increasing Reserves, Production and Efficiency", organized mobilization of cadres and employees to anchor the annual target, and coordinated the advancement of epidemic prevention and control. In production and operation, we will do a good job in increasing reserves and increasing efficiency, stabilizing oil and increasing efficiency, increasing gas and increasing efficiency, expanding the market and increasing efficiency, reducing costs and increasing efficiency, ensuring the completion of various goals and tasks, and a good start to the "14th Five-Year Plan".

Vigorously increase the discovery rate of large-scale reserves to achieve more oil and gas reserves and efficiency. Carry out the battle for gas testing in northeastern Sichuan and the battle for oil testing in the Inner Mongolia exploration area, deepen research on key areas, and strive to discover large-scale reserves.

Vigorously improve the development and recovery rate, and achieve more stable production and efficiency in old areas. Implement hierarchical management responsibilities, implement one plan, one strategy plan optimization, and improve block governance effects; focus on low-cost hydrodynamic adjustment, strengthen injection and production management, and control natural decline; fully promote natural gas potential, strengthen dissolved gas management, and develop scattered gas Recycling, strive to achieve a steady increase in gas collection rate, and maintain a commodity rate of 55%.

Vigorously improve the efficiency of natural gas production to achieve more production and efficiency in northeastern Sichuan. Strengthen the integration and coordination of exploration and development and geological engineering in northeastern Sichuan, speed up drilling operations and surface matching, make up debts, and quickly increase production; refined old well management, implementation of pressurized mining projects, deepening development dynamic management, and optimizing one well, one strategy. Strengthen the control of water and sulfur, and the comprehensive decline rate shall be controlled within 4.8%.

Vigorously increase the marginal profit rate of the project, and realize the optimization and efficiency increase of the market expansion. Give full play to the leading role of Zhongyuan Gas Service and Zhongyuan Service Brands, and continue to increase external market revenue; follow up with the country’s major regional strategies, track and promote key projects, and continue to expand the market scale; strengthen project benefits and risk assessment to ensure that the marginal benefit is less than 30% Projects will not be contracted; special work classes will be established to optimize integration and orderly exit for projects with low marginal benefits.

Vigorously increase the contribution rate of lean management and realize internal potential tapping, reducing costs and increasing efficiency. Persist in calculating wins beforehand, encourage more cost-effective investment, to calculate profitable accounts and spend profitable money; strictly control external cost expenditures, and vigorously promote underground operations to "speed up, improve efficiency, reduce frequency, and reduce costs"; optimize grid operation , To reduce purchased electricity prices, basic electricity costs and comprehensive network losses; strictly control management expenditures, rigidly control conferences, personnel outing training and other expenses, and achieve a year-on-year reduction of 10%.


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