China Sinopec — Continental Shale Oil project mid‑year coordination meeting
- The coordination and monthly scheduling meeting was held on August 5 at Shengli Oilfield and chaired by group chairman Hou Qijun.
- Shengli Jiyang shale oil has an assessed resource volume of 10.5 billion tons; its national demonstration zone was completed on schedule.
- Project targets focus on improving four rates — resource proven, reserve utilization, crude recovery and operating profit — to enable industrialised scale‑up.
- Technical priorities are high‑precision 3D seismic, horizontal well drilling and efficient fracturing; the Minfeng No.8 platform new well factory demonstrated faster, lower‑cost deployment.
Meeting and leadership direction
The half‑year coordination and monthly scheduling meeting for the Continental Shale Oil Scale Reserve Increase and Benefit Development Sci‑Tech Industry Finance Innovation Major Project took place on August 5 at Shengli Oilfield. Group chairman and project general commander Hou Qijun attended and called for intensified sci‑tech industry finance innovation to support a shale revolution and safeguard national energy security.
Progress and strategic significance
Hou affirmed landmark results since intensified organisation this year: the Shengli Jiyang shale oil national demonstration zone was completed on schedule and the Minfeng No.8 platform new well factory created a new paradigm for accelerating delivery and reducing costs. Shengli Jiyang carries an assessed resource volume of 10.5 billion tons and is positioned as a key increment to stabilise energy supply.
Operational and technical priorities
The project will prioritise raising four rates — resource proven rate, reserve utilisation rate, crude oil recovery rate and operating profit rate — to drive industrialised, scaled production. Technical emphasis is on the 'three sharp swords': high‑precision three‑dimensional seismic, horizontal well drilling and efficient fracturing, and on integrating geology, engineering and service capabilities to remove chokepoint technologies and convert resources into reserves and production.
Governance, collaboration and talent
Hou urged deeper integration across research institutes, engineering and production units, with mechanisms for demand docking, resource sharing, risk sharing and benefit distribution. He also called for open talent recruitment, strengthened cultivation and incentives so project teams can deliver at scale. The meeting reviewed overall project status and heard reports from participating units and headquarters departments.
Source: Sinopec