Sou Hu Cai Jing·2025-10-25 22:30Core Insights - The discovery of high-yield industrial oil and gas flow at the Qilu Yey 1 well in the Qijiang area of the Sichuan Basin marks a significant advancement in China's energy sector, with daily production of 38.64 cubic meters of shale oil and 10,000 cubic meters of natural gas, indicating a total shale oil resource potential of over 100 million tons [1][3][5] Exploration and Development - The successful breakthrough at Qilu Yey 1 well reveals a unique "gas below, oil above" energy storage pattern, complementing the previously discovered large-scale Qijiang shale gas field [3][5] - The well has confirmed a resource target exceeding 100 million tons of shale oil, representing a strategic shift in oil and gas exploration from marine to terrestrial environments in southern Sichuan [5][11] - The drilling team utilized advanced technologies such as "sweet spot" prediction and volume fracturing, achieving a 100% success rate in identifying productive zones [8][10] Production Growth - The annual shale oil production at Changqing Oilfield in the Ordos Basin has surged from less than 500,000 tons in 2020 to 3 million tons currently, establishing it as a key base for shale oil development in China [3][11] - China Petroleum & Chemical Corporation (Sinopec) aims for a shale oil production target of 705,000 tons in 2024, reflecting an increase of 308,000 tons from the previous year [13] Strategic Importance - Shale oil is recognized as a crucial unconventional oil resource with significant development potential, serving as an important substitute for long-term crude oil production stability in China [11][21] - The global perspective indicates that the world's shale oil resources are abundant, with proven reserves far exceeding conventional oil reserves [15] Future Development Path - The discovery of large-scale shale oil resources necessitates a focus on efficient development and green transformation, as exemplified by Changqing Oilfield's integrated approach to "oil and gas + new energy + ecological protection" [15][17] - Initiatives such as the establishment of a 100 MW solar power generation base and the implementation of carbon capture, utilization, and storage (CCUS) technologies are part of the transition towards a comprehensive energy company [17][20] - The successful development of shale oil in China is expected to enhance energy security, drawing parallels with the U.S. shale oil revolution that achieved energy independence [21]