Zhong Guo Jin Rong Xin Xi Wang·2025-07-31 03:08Core Viewpoint - The successful evaluation of the first phase of the Fuxing Oilfield's proven geological reserves marks a significant breakthrough in shale oil exploration in the Sichuan Basin, establishing it as the first shale oil field in the region and in Chongqing, which has strategic implications for the development of shale oil in Southwest China [1][2]. Group 1 - The Fuxing Oilfield has proven geological reserves of 10.06 million tons of oil and 12.352 billion cubic meters of natural gas, indicating a strategic breakthrough in shale oil exploration in the Sichuan Basin [1]. - The Sichuan Basin has historically been characterized by "rich gas and scarce oil," primarily focusing on natural gas exploration, with oil resources being relatively scarce [1]. - The successful drilling of the Taiye 1 well in 2021 yielded a daily production of 58.9 cubic meters of oil and 73,500 cubic meters of gas, marking a significant advancement in the exploration of shale oil and gas in the region [1]. Group 2 - Following the breakthrough at the Taiye 1 well, the exploration and development team has deployed multiple evaluation and experimental wells, significantly improving the accuracy of seismic predictions for high-quality shale and overcoming technical bottlenecks in land shale volume fracturing [2]. - The company has successfully identified three new shale oil fields: Xinxing, Qintong, and Fuxing, with Xinxing being the first shale oil field in China to reach a geological reserve of over 100 million tons [2]. - The annual production of shale oil is projected to reach 705,000 tons in 2024, representing an increase of 308,000 tons year-on-year [2].