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Sinopec Discovers Record Amounts of Shale Oil in Its East China Shengli Oilfield
China Petroleum & Chemical Corporation's (HKG: 0386, "Sinopec" or "the Company") announced the discovery of over 140 million tonnes of proven geological reserves of shale oil with technically recoverable reserves of 11.3599 million tonnes at its Shengli Oilfield's Jiyang shale oil national demonstration zone in East China's Shandong province on March 24, 2025. This is the first shale oil field with proven geological reserves of over 100 million tonnes that has been certificated by China's Minist
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[{"type":"text","content":"Shengli Oilfield leads exploration breakthroughs with theoretical innovation, stimulates cost reduction and efficiency improvements with technological progress, and boosts both quantity and quality enhancements with equipment upgrades, driving shale oil exploration and development in China to new heights.","length":306,"tagName":"p"},{"type":"text","content":"ZIBO, China, April 1, 2025 /PRNewswire/ -- China Petroleum & Chemical Corporation's (HKG: 0386, "Sinopec" or "the Company") announced the discovery of over 140 million tonnes of proven geological reserves of shale oil with technically recoverable reserves of 11.3599 million tonnes at its Shengli Oilfield's Jiyang shale oil national demonstration zone in East China's Shandong province on March 24, 2025. This is the first shale oil field with proven geological reserves of over 100 million tonnes that has been certificated by China's Ministry of Natural Resources.","length":612,"tagName":"p"},{"type":"image","alt":"SINOPEC Discovers Record Amounts of Shale Oil in Its East China Shengli Oilfield. (PRNewsfoto/SINOPEC)","displaySize":"","headline":null,"caption":"SINOPEC Discovers Record Amounts of Shale Oil in Its East China Shengli Oilfield. (PRNewsfoto/SINOPEC)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":258,"url":"https://media.zenfs.com/en/prnewswire.com/fa75f5ec6bfb3a6ff692ff2b0457a10d"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/gxCEKVSXdsOAnN_m6XO3ZQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ1NTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/fa75f5ec6bfb3a6ff692ff2b0457a10d","width":400,"height":258}},"href":"https://mma.prnewswire.com/media/2655057/SINOPEC_Discovers_Record_Amounts_Shale_Oil_Its_East_China_Shengli.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Shengli Oilfield has developed advanced automated drilling equipment that extracts efficiently, and explored horizontal well optimization and fast drilling technology, and dense cutting combined seam network volume fracturing technology. The average drilling cycle has been reduced from 133 days to 29.5 days, and the drilling cycle of 6,000-meter wells has reached 17.7 days, and the single well production capacity has continued to set new records.","length":450,"tagName":"p"},{"type":"text","content":...
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