Core Viewpoint - The company has achieved significant improvements in drilling efficiency and cost management through technological integration, production coordination, and targeted cost control, leading to enhanced operational performance in offshore drilling. Group 1: Drilling Performance - In the first quarter, the company’s offshore drilling operations achieved a cumulative drilling depth of 41,900 meters, an increase of 7,255 meters compared to the same period last year, equivalent to the workload of an additional drilling platform [1] - The company has successfully implemented a "less machinery, higher output" practice, maintaining the same number of drilling platforms while increasing productivity [1][3] Group 2: Technological Integration - The company has established a "433" engineering technology integration system tailored to the unique characteristics of the Victory sea area, transitioning from experience-based drilling to scientific drilling [4] - The average mechanical speed of the second opening of the Chengbei 256B-7 well increased by 46.3% compared to other wells, significantly improving construction efficiency [4] - The company has optimized drilling techniques, achieving a record length of 709 meters for horizontal sections in the Chengbei 256A well [5] Group 3: Production Coordination - The company has reduced the trial oil production cycle by over 10% through seamless coordination between drilling and downhole operations, ensuring efficient transitions from drilling to production [6] - The company has implemented a unified command for production, enhancing collaboration among various departments and achieving same-day platform deployment and operations [6][7] Group 4: Cost Control - Diesel accounts for over 40% of drilling costs, and the company has achieved a usage rate of 64 kilograms per meter for the new Victory No. 1 platform, leading in fuel efficiency [8] - The company has expanded its lean management approach to include all platforms and project departments, setting a revenue target of 11.25 million yuan through focused cost control initiatives [8] - The company has detailed the cost management process across eight core drilling engineering aspects and over 70 cost factors to enhance profitability [9]