Bei Jing Ri Bao Ke Hu Duan·2025-10-23 07:59Core Insights - China Petroleum & Chemical Corporation (Sinopec) has achieved a significant breakthrough in shale oil production with the successful testing of the Qilu Yey 1 well in Chongqing, which yields 38.64 cubic meters of shale oil and 10,000 cubic meters of natural gas per day, indicating the discovery of a new shale oil reserve with a resource volume exceeding 100 million tons in the Sichuan Basin [1][3] Group 1: Shale Oil Discovery - The Qilu Yey 1 well is located in the Qijiang District of Chongqing and has a shale reservoir situated over 2,000 meters underground, with a horizontal drilling length exceeding 2 kilometers and an oil-bearing shale thickness of nearly 40 meters [3] - The breakthrough at this well reveals that the new type of high-quality shale in the area covers over 1,000 square kilometers, showcasing significant exploration and development potential [3] Group 2: Strategic Implications - The discovery at Qilu Yey 1 well aligns with Sinopec's strategic vision of transitioning from marine to terrestrial oil and gas exploration in the southern Sichuan Basin, marking a major step in the company's exploration efforts [3] - The Qijiang shale gas field, where the Qilu Yey 1 well is located, was previously identified in 2022 as a large-scale shale gas field with a resource volume of 100 billion cubic meters, creating a "gas below, oil above" resource structure in the region [5] Group 3: Future Production Goals - Sinopec plans to increase its shale oil production to 705,000 tons in 2024, representing an increase of 308,000 tons from the previous year, and aims to confirm geological reserves of over 200 million tons of shale oil and 12.352 billion cubic meters of natural gas by 2025 [5]