This year, Shanghai Offshore Petroleum Bureau has implemented a strategic framework integrating offshore oil and gas, new energy, and carbon capture and storage (CCS). The focus has been on vigorously boosting offshore reserves and production, accelerating the discovery of large-scale reserves, and persistently advancing detailed adjustments in mature fields alongside capacity building in new areas. Efforts to deepen integrated exploration, development, geology, and engineering have been intensified, alongside speeding up the profitable development of the Weizhou oilfield. For the first half of the year, crude oil and natural gas output rose by 50.79% and 16.84% year-on-year, respectively.
On the exploration front, the bureau concentrated on large-scale targets and centralized exploration deployment. It continuously optimized designs for drilling targets and actively promoted the evaluation of potential in key zones. A proposal for a high-risk offshore well passed its preliminary review.
Regarding development, the bureau set its sights on goals of enhancing quality and efficiency in offshore operations. It accelerated the efficient development of new areas and the incremental potential tapping in mature fields. Breakthroughs were made in core technologies such as offshore fracturing and low-permeability reservoir productivity enhancement. A pilot test for large-scale fracturing to boost production in a cooperative block was conducted for the first time.
In the domain of offshore engineering, rig utilization reached 95.69%. The average rate of penetration increased by 33% year-on-year, while the average drilling cycle was shortened by 37.36%. The number of wells drilled and completed saw a year-on-year increase of 21.05%.
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