Qinghai Oilfield Produces 23.8 Billion Cubic Meters of Natural Gas During Winter Supply Season

Deep News04-01

As of March 31, Qinghai Oilfield, a subsidiary of China National Petroleum Corporation (CNPC), reported a cumulative natural gas production of 23.8 billion cubic meters during the latest winter supply period. The peak daily output reached 15.1 million cubic meters, successfully fulfilling the natural gas supply tasks for the 2025-2026 winter season. This effort has robustly secured the residential and industrial gas demands across Qinghai, Gansu, and Tibet.

Located in the northwestern part of the Qaidam Basin with an average elevation exceeding 3,000 meters, Qinghai Oilfield is the world's highest-altitude oilfield, with oil and gas exploration and development dating back to 1954. The Sebei Gas Field, which accounts for approximately 80% of Qinghai Oilfield's total natural gas output, serves as the primary source for gas supply in the Gansu-Qinghai-Tibet region.

After three decades of extraction, the gas field has begun facing challenges such as declining formation pressure, increased water influx, and severe sand production. To stabilize output, Qinghai Oilfield implemented measures including rigorous management of individual wells, meticulous maintenance of aging wells, strict control of sand and liquid levels in gas wells, and optimization of operational strategies. Over the year, the company completed 516 well interventions, boosting daily gas production by 3.09 million cubic meters with an effectiveness rate of 91.5%. Sand control efforts continued uninterrupted during the winter, adding 1.78 million cubic meters of daily gas output. Daily maintenance exceeded planned targets, with 842 well interventions performed daily, stabilizing gas production by 2.37 million cubic meters and effectively countering the pressures of declining formation pressure and rising natural decline rates.

Throughout the winter supply period, Qinghai Oilfield also enhanced its gas supply capacity to meet seasonal peak shaving, operational safety, and long-term stable production requirements. This ensured effective management of peak demand during critical periods such as the Spring Festival.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment