Latest news with #ChinaPetroleum&ChemicalCorporation
Korea Herald
14-05-2025
- Business
- Korea Herald
Sinopec Sets New Vertical Well Depth Record of 5,300 Meters
BEIJING, May 14, 2025 /PRNewswire/ -- China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") has announced a major shale gas exploration breakthrough of its Project Deep Earth - Sichuan and Chongqing Natural Gas Base, that its Tiebei 1HF well has been tested at a high daily output of 314,500 cubic meters of industrial gas flow. The vertical depth of the well reaches over 5,300 meters with a 1,312-meter-long horizontal section, setting a new record for vertical depth of shale gas wells in China. The breakthrough will boost the gas reserves and production efficiency in the Puguang area as well as contribute to the development of ultra-deep shale gas in the Sichuan Basin. The Puguang gas and oil field is the first extra-large deep and high-sulfur gas field in China with large-scale development and has been efficiently developed for 20 years. To achieve the goal of long-term stable shale gas production, Sinopec is constantly looking for new resources and eyed the Puguang Upper Permian, but most of the resources are distributed in the ultra-deep field with a burial depth of over 4,500 meters, which is regarded as a "forbidden zone" because of the rapid changes in the velocity of the strata. Sinopec tackled the bottleneck through extensive research and technological innovations to realize a 100 percent drilling encounter rate of high-quality shale in horizontal section with drilling precision comparable to "threading a needle in the deep underground" to eventually drill the Tiebei 1HF well successfully. Sinopec's self-developed 175 MPa ultrahigh-pressure (UHP) fracturing equipment dynamically optimizes the parameters on-site with different strategies for each section and opened up a "man-made gas road" in the high-pressure stratum at the depth of 5,300 meters, bringing back all the resources from the deepest and farthest ends of the gas reservoir to maximize the development. At present, Sinopec Zhongyuan Oilfield is preparing an overall exploration and development plan for the Upper Permian shale gas in Puguang to promote the efficient transformation of resources. The exploration and development of shale gas are of strategic importance to China's energy landscape, and Sinopec actively takes the responsibility and discovered the Fuling shale gas field in 2012, which kicked off commercial development of shale gas in China, and Sinopec continues to promote high-quality development of China's shale gas industry.
Yahoo
14-05-2025
- Business
- Yahoo
Sinopec Sets New Vertical Well Depth Record of 5,300 Meters
BEIJING, May 14, 2025 /CNW/ -- China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") has announced a major shale gas exploration breakthrough of its Project Deep Earth - Sichuan and Chongqing Natural Gas Base, that its Tiebei 1HF well has been tested at a high daily output of 314,500 cubic meters of industrial gas flow. The vertical depth of the well reaches over 5,300 meters with a 1,312-meter-long horizontal section, setting a new record for vertical depth of shale gas wells in China. The breakthrough will boost the gas reserves and production efficiency in the Puguang area as well as contribute to the development of ultra-deep shale gas in the Sichuan Basin. The Puguang gas and oil field is the first extra-large deep and high-sulfur gas field in China with large-scale development and has been efficiently developed for 20 years. To achieve the goal of long-term stable shale gas production, Sinopec is constantly looking for new resources and eyed the Puguang Upper Permian, but most of the resources are distributed in the ultra-deep field with a burial depth of over 4,500 meters, which is regarded as a "forbidden zone" because of the rapid changes in the velocity of the strata. Sinopec tackled the bottleneck through extensive research and technological innovations to realize a 100 percent drilling encounter rate of high-quality shale in horizontal section with drilling precision comparable to "threading a needle in the deep underground" to eventually drill the Tiebei 1HF well successfully. Sinopec's self-developed 175 MPa ultrahigh-pressure (UHP) fracturing equipment dynamically optimizes the parameters on-site with different strategies for each section and opened up a "man-made gas road" in the high-pressure stratum at the depth of 5,300 meters, bringing back all the resources from the deepest and farthest ends of the gas reservoir to maximize the development. At present, Sinopec Zhongyuan Oilfield is preparing an overall exploration and development plan for the Upper Permian shale gas in Puguang to promote the efficient transformation of resources. The exploration and development of shale gas are of strategic importance to China's energy landscape, and Sinopec actively takes the responsibility and discovered the Fuling shale gas field in 2012, which kicked off commercial development of shale gas in China, and Sinopec continues to promote high-quality development of China's shale gas industry. For more information, please visit View original content to download multimedia: SOURCE SINOPEC View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
14-05-2025
- Business
- Cision Canada
Sinopec Sets New Vertical Well Depth Record of 5,300 Meters
BEIJING, May 14, 2025 /CNW/ -- China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") has announced a major shale gas exploration breakthrough of its Project Deep Earth - Sichuan and Chongqing Natural Gas Base, that its Tiebei 1HF well has been tested at a high daily output of 314,500 cubic meters of industrial gas flow. The vertical depth of the well reaches over 5,300 meters with a 1,312-meter-long horizontal section, setting a new record for vertical depth of shale gas wells in China. The breakthrough will boost the gas reserves and production efficiency in the Puguang area as well as contribute to the development of ultra-deep shale gas in the Sichuan Basin. The Puguang gas and oil field is the first extra-large deep and high-sulfur gas field in China with large-scale development and has been efficiently developed for 20 years. To achieve the goal of long-term stable shale gas production, Sinopec is constantly looking for new resources and eyed the Puguang Upper Permian, but most of the resources are distributed in the ultra-deep field with a burial depth of over 4,500 meters, which is regarded as a "forbidden zone" because of the rapid changes in the velocity of the strata. Sinopec tackled the bottleneck through extensive research and technological innovations to realize a 100 percent drilling encounter rate of high-quality shale in horizontal section with drilling precision comparable to "threading a needle in the deep underground" to eventually drill the Tiebei 1HF well successfully. Sinopec's self-developed 175 MPa ultrahigh-pressure (UHP) fracturing equipment dynamically optimizes the parameters on-site with different strategies for each section and opened up a "man-made gas road" in the high-pressure stratum at the depth of 5,300 meters, bringing back all the resources from the deepest and farthest ends of the gas reservoir to maximize the development. At present, Sinopec Zhongyuan Oilfield is preparing an overall exploration and development plan for the Upper Permian shale gas in Puguang to promote the efficient transformation of resources. The exploration and development of shale gas are of strategic importance to China's energy landscape, and Sinopec actively takes the responsibility and discovered the Fuling shale gas field in 2012, which kicked off commercial development of shale gas in China, and Sinopec continues to promote high-quality development of China's shale gas industry. For more information, please visit
Fibre2Fashion
24-04-2025
- Business
- Fibre2Fashion
Belgian MNC Syensqo & Sinopec partner on advanced materials
Syensqo, a leader in advanced materials and specialty chemicals, and China Petroleum & Chemical Corporation (Sinopec) have signed a Strategic Partnership Framework Agreement to foster collaboration in advanced materials and specialty chemicals. Syensqo and China Petroleum & Chemical Corporation have signed a Strategic Partnership Framework Agreement to boost collaboration in advanced materials and specialty chemicals. Key focus areas include carbon fibre, specialty polymers, sustainability, and supply chain management, with aims to drive innovation across aerospace, energy, and transportation sectors. The partnership is set to explore business development opportunities and application development in various sectors, including commercial aerospace, transportation, energy, electronics and industrial fields. By leveraging their combined expertise, Syensqo and Sinopec aim to empower innovation and deliver sustainable solutions that meet the evolving demands of these industries. Key areas of focus include carbon fiber and composites, specialty polymers, and material solutions for commercial aerospace, transportation, and energy sectors. The collaboration will also delve into supply chain management and sustainability initiatives, including the use of circular chemicals and reducing carbon footprint. The two companies will also explore business cooperation in emerging markets such as South America and Asia. Dr. Ilham Kadri, CEO of Syensqo, stated, "We have had many exchanges with Sinopec in Beijing, Shanghai and Brussels. This strategic partnership aligns with Syensqo's mission to pursue breakthroughs that advance humanity. Together, we will explore innovative solutions that address the evolving needs of our industries while lowering carbon footprint." Mr. Zhao Dong, General Manager of SINOPEC said, 'SINOPEC has always upheld the concept of openness and cooperation. This collaboration with Syensqo is an important practice to deepen the synergy of the global energy and chemical industry chain. We will take the lead in science and technology innovation, promote the research and development of green and low-carbon technologies and high-end materials, jointly explore the path of high-quality development of the petrochemical industry, and provide customers around the world with cleaner and more efficient energy, chemical products and advanced material solutions.' Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
Zawya
23-04-2025
- Business
- Zawya
Sinopec makes Overseas Debut with Global Energy Forecast: Global Energy Outlook 2060 Report released
RIYADH, Saudi Arabia /PRNewswire/ -- China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") officially released the first Global Energy Outlook 2060 report (the "Report") on April 21 at the overseas launch event for China's energy and chemical industry reports held in Riyadh, Saudi Arabia. Two more reports, the China Energy Outlook 2060 (2025 Edition) and the 2025 China Energy and Chemical Industry Outlook, were published at the event as well. This is Sinopec's third overseas release event in Saudi Arabia, strengthening collaboration on energy transition and promoting academic and business exchanges. The Report marks the first time a Chinese enterprise has published a mid- to long-term global energy outlook overseas, using innovative research for improved forecasts. It predicts global primary energy consumption will peak at 26.71 billion tonnes of standard coal by 2045, with renewables comprising 51.8% by 2060. Energy consumption will slow to 25.25 billion tonnes by 2060, with oil and gas making up 35.7%. Oil consumption will peak at 4.66 billion tonnes in 2030, shifting focus from transportation to industrial raw materials, while still accounting for 40% of transportation energy by 2060. Non-fossil energy will see major growth: hydrogen use will rise from 2% in 2023 to nearly 50% by 2060, exceeding 340 million tonnes annually. CCUS capacity will expand to 110 million tonnes by 2030 and 4.7 billion tonnes by 2060, driving the energy transition. The China Energy Outlook 2060 (2025 Edition) predicts China's primary energy use will plateau after 2030, peaking at 6.8–7.1 billion tonnes of standard coal. Oil demand will peak before 2027, while non-fossil energy will surpass fossil fuels in power generation by 2035. CO₂ emissions from energy are expected to peak at 10.8–11.2 billion tonnes before 2030, ensuring an early carbon peak. The 2025 China Energy and Chemical Industry Outlook notes that China's total refining capacity will peak at 960–970 million tonnes per year by 2025, while the chemical industry faces overcapacity in olefins, aromatics, a sustained high capacity levels of bulk chemical products.
