Bei Jing Ri Bao Ke Hu Duan·2025-10-23 09:46Core Insights - China Petroleum & Chemical Corporation (Sinopec) has successfully tested a high-yield shale oil and gas flow from the Qilu Yeyou 1 well in the Qijiang District of Chongqing, achieving a daily oil production of 38.64 cubic meters and natural gas production of 10,000 cubic meters, indicating a significant resource discovery in the Sichuan Basin [1] Group 1: Resource Discovery - The successful testing of the Qilu Yeyou 1 well has led to the discovery of a new resource area with a resource volume reaching the billion-ton level for shale oil [1] - The discovery of shale oil is crucial for China's long-term stable oil production, serving as an important alternative to conventional oil resources [1] Group 2: Strategic Developments - In 2022, Sinopec discovered a large-scale shale gas field in the Qijiang area with a geological reserve of 100 billion cubic meters, marking a significant advancement in shale gas exploration [2] - The company has implemented a new round of basic research on shale oil and has successfully identified new shallow and medium-depth large-scale shale oil targets in the Qijiang New District [1][2] Group 3: Ongoing Exploration Efforts - Sinopec is intensifying its exploration and development of shale oil, having confirmed new oil fields in the Xinxing, Qintong, and Fuxing shale formations [2] - The Xinxing oil field in the Bohai Bay Basin has reported proven geological reserves of over 140 million tons, while the Qintong oil field in the Jiangsu Province has confirmed reserves of 40.02 million tons [2] - The Fuxing oil field in the southeastern Sichuan Basin has reported proven geological reserves of 20.10 million tons of oil and 12.352 billion cubic meters of natural gas [2]