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Cost Reduction & Efficiency Enhancement in China Shale Gas & Oil - Energy China Forum (ECF) 2020 10th Asia-Pacific Shale Gas & Oil Summit News Release


Energy China Forum 10th anniversary celebration and ECF 2020 10th Asia-Pacific Shale Gas & Oil Summit was successfully held on 21-23 October 2020 in Shanghai. This summit was jointly hosted by Shanghai United Institute for Unconventional Resources (SUI) and Shanghai Energy Economy Committee of SEA and supported by co-organizers China Petroleum Enterprises Association and Coordinating Committee for Geoscience Programmesin East and Southeast Asia (CCOP).

Shale gas & oil industry in Asia-Pacific has become an emerging market with fast growing resources. As a leading shale player in Asia-Pacific, China has been proved with great resource potential, high government support and increasing operations in its shale gas & oil. Themed of “Cost Reduction & Efficiency Enhancement in China Shale Gas & Oil”, ECF2020 Summit addressed the current shale gas & oil development in all Chinese major shale plays, policy development, and technology advances & demands for this emerging market after COVID-19 outbreak.

Mr. Zhang Hongtao, Counselor of the State Council and former Ministry of Land and Resources, pointed out that China's shale gas resources are very rich. According to the China Petroleum Economic Research Institute, China’s recoverable shale gas has reached 21.8 trillion cubic meters, and China’s shale gas production in 2019 was 15.384 billion cubic meters.

Therefore, Zhang Hongtao made the following suggestions: First, respect the laws of nature, increase investment, and further figure out China's energy resources. Second, adhere to the market opening, let the market play a decisive role in allocating resources., and liberalize market access such as incubation services, experimental testing and key equipment research and development. Third, improve relevant laws and regulations, strengthen the supervision of geological disasters and ecological environment with emphasis on the protection and restoration of natural ecology, include water consumption, waste water, waste gas discharge. Fourth, strengthen international cooperation, build extensive innovation capacities together to foster growth and share innovation activities.

Shale Innovation – China Is on Its Way

According to Zhang Dawei, researcher of the Consulting Research Center of the Ministry of Natural Resources, China’s remaining proven technically recoverable reserves of shale gas are 384.181 billion cubic meters, an increase of 77.8% over the previous year. He mentioned that China’s 14th Five-Year Plan for shale oil and gas is difficult to predict. The key way out lies in reform. The core of several opinions of the Central Committee and the State Council on oil and gas reform is one sentence: the oil and gas system must be market-oriented, which is its core goal.

China's shale oil and gas are developing rapidly, and the prospects are huge. Zhang Dawei said that the country is looking to boost shale gas production to between 50 billion and 80 billion cubic meters per annum by 2025 as part of its China's 14th five-year economic development plan, which starts from next year.

More public-listed companies and global oil & gas players participated ECF2020 Summit and shared their strategy and insight about China’s shale opportunities, including CNPC, Sinopec, CNOOC, Shaanxi Yanchang Petroleum, Jereh Group, Tartan Energy Group, Schlumberger, BOMOCO, Rystad Energy, etc.

Dr. Young Joo LEE, Director of Coordinating Committee for Geoscience Programmes in East and Southeast Asia (CCOP) Technical Secretariat said he was anticipating this forum could provide a platform for Asian countries which include CCOP Member countries can have opportunity to bring the shale revolution in their own countries.

Ms. Xiaolai Zhou, President, Energy China Forum (ECF), pointed out that China's shale oil and gas market is accelerating its diversified development with participation of more social entities and emerging forces playing a positive role. And Energy China Forum has become an important force driving this diversification process.

Technology Innovation – Driving Force for China Shale

From cost-reducing to efficiency increasing, technology innovation has become a major driving force for China’s shale development.

ECF2020 5th Oil and Gas Tech Innovation Award

Ceremony took place during the summit. Initiated by Shanghai United Institute for Unconventional Resources and the Coordinating Committee for Geoscience Programmes in East and Southeast Asia (CCOP). This award aims to recognize and reward innovative technologies and products that has the potential to make significant contributions towards the oil and gas industry.

A total of 3 technical entries have been awarded this honor:

 

1.  Downhole Oil & Water Separation Technology and Equipment

Awarded: Cost Reduction & Efficiency Enhancement Technology

Submitted by: Research Institute of Petroleum Exploration and Development, PetroChina;

Daqing Oilfield Production Engineering Research Institute;

PetroChina Dagang Oilfield Company

 

 

2. High Performance Mechanical Seal Washpipe Assembly

Awarded:Cost Reduction & Efficiency Enhancement Technology   

Submitted by:Beijing JJC Petroleum Equipment Co., Ltd.

 

 

 

 

3. Safe Environment-Friendly Chemical Tracer Test and Application 

Award:Exploration & Production Technology

Submitted by:Gepetto Oil Technology Group Co., Ltd.;

Sichuan Gepetto Energy Technology Co., Ltd.

 

ECF2020 10h Asia-Pacific Shale Gas & Oil Summit has become an inspiration and a dominant platform for all of the industry who continue working in the unconventional oil and gas industry in China, Asia-Pacific region and the rest of the world.

Energy China Forum (ECF) is proud to announce that ECF2021 11th Asia-Pacific Shale Gas & Oil Summit will be held in September 2021 in Shanghai, China and glad to invite all global players to witness the 11th anniversary for China shale gas development and seek more opportunities.

For more details and updates, please visit www.energychinaforum.com.







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