PETROCHINA(SH:601857) Xin Lang Cai Jing·2026-01-16 18:01Core Insights - The Southwest Oil and Gas Field Company is set to achieve an annual natural gas production of 50 billion cubic meters by 2025, marking a significant milestone for the Southwest region of China [1] - This achievement is expected to contribute to the national goal of establishing a 100 billion cubic meter natural gas production base in the Sichuan-Chongqing area [1] Group 1 - The company's natural gas production in 2025 will increase by 5.3 billion cubic meters compared to the previous year, accounting for approximately 40% of the national total increase, which will reduce China's dependence on foreign natural gas by about 1.2 percentage points [1] - The production increase is equivalent to a reduction in the need for 49 large LNG carriers, significantly enhancing domestic energy security [1] - The company has rapidly developed its production capacity, moving from the establishment of its first 10 billion cubic meter gas field in 2004 to surpassing 40 billion cubic meters in 2023, and now aiming for an additional 10 billion cubic meters in just two years [1] Group 2 - By 2025, the company plans to add nearly 400 billion cubic meters of new natural gas geological reserves in the Sichuan Basin, with a high exploration success rate of 81% [2] - The company has achieved the drilling of 11 high-yield gas wells, each producing over 1 million cubic meters per day [1] - The proportion of unconventional natural gas has increased to 42%, indicating a strategic shift towards a collaborative development of both conventional and unconventional gas resources [1]