Sinopec Corp.(SH:600028) Xin Lang Cai Jing·2026-02-08 21:40Core Insights - Sinopec's Shengli Oilfield has successfully completed an energy transformation project that utilizes geothermal resources for heating, marking significant progress in the industrial application of medium and deep geothermal resources in China's oil and gas sector [1][2]. Group 1: Project Details - The project employs a dual heat source technology that combines high-temperature waste heat from gas wells and medium-temperature waste heat from oil wells, achieving efficient utilization of clean thermal energy [1]. - The annual clean heating capacity of the project is estimated at 209,000 gigajoules, with heating costs reduced by 59%, replacing 6.38 million cubic meters of natural gas, which can meet the annual gas needs of approximately 20,000 urban households [1]. - The project contributes to a reduction of 13,500 tons of carbon dioxide emissions annually [1]. Group 2: Strategic Shift - Shengli Oilfield is accelerating its transformation from a traditional oil and gas production company to a diversified green energy supplier [1]. - The Jiyang Depression has a total geothermal resource equivalent to about 25 billion tons of standard coal, with an average geothermal gradient of 3.4 to 4.2 degrees Celsius per 100 meters, representing a typical geological structure of "oil basin + thermal basin" [1]. - The oilfield has established 51 geothermal waste heat utilization projects and revitalized 25 abandoned wells, achieving an annual clean heating capacity of 3.46 million gigajoules [1]. Group 3: Industry Implications - The practice of converting abandoned wells into heat source wells and developing new thermal fields in old oil fields provides a replicable and scalable model for the clean transformation of the traditional oil and gas industry [2]. - This approach is significant for achieving new energy integration in the oil and gas sector and promoting adjustments in the national energy structure [2].