Core Viewpoint - The successful completion of China's first 10,000-meter scientific exploration well, the Deep Earth Taka 1 Well, marks a significant milestone in deep earth engineering and oil and gas exploration, showcasing advancements in technology and geological understanding [9][13][18]. Group 1: Project Overview - The Deep Earth Taka 1 Well, located in the Tarim Basin, achieved a drilling depth of 10,910 meters, setting five global drilling records [9][12]. - This well is part of China's major deep earth engineering initiatives during the 14th Five-Year Plan period, aimed at enhancing national energy security [8][10][16]. Group 2: Technical Challenges - Drilling at such depths involves extreme conditions, including high temperatures (up to 220 degrees Celsius) and pressures (145 MPa), making it a formidable engineering challenge [12][14]. - The well had to penetrate 12 different geological layers, each with varying rock properties, necessitating frequent adjustments in drilling techniques and equipment [11][12]. Group 3: Technological Innovations - The project utilized a self-developed 12,000-meter automated drilling rig, capable of lifting 900 tons, significantly enhancing operational efficiency [14][15]. - Advanced drilling technologies, including high-temperature drilling fluids and specialized drill bits, were developed to meet the unique challenges of deep drilling [14][15]. Group 4: Geological Insights - The successful drilling provided valuable geological data from depths previously unexplored, confirming the potential for oil and gas resources in the Tarim Basin [13][17]. - The exploration of deep geological formations can reveal insights into ancient environmental conditions and the evolution of sedimentary basins [17][18]. Group 5: Strategic Importance - The advancement in deep drilling capabilities is crucial for China's energy strategy, as the country seeks to reduce its reliance on foreign oil and gas [16][18]. - The exploration of deep and ultra-deep oil and gas resources is identified as a key area for future discoveries, with significant remaining resources in the 8,000-meter and deeper categories [16][18].

Core Insights - The successful completion of China's first 10,000-meter exploratory well, the Deep Taka 1 Well, marks a significant milestone in deep earth engineering, providing strong support for national energy security [4][8][11] Group 1: Project Overview - The Deep Taka 1 Well, located in the Taklamakan Desert, reached a depth of 10,910 meters, setting five drilling records, including the fastest land drilling to exceed 10,000 meters [4][7] - The well is part of a major deep earth engineering initiative by China National Petroleum Corporation (CNPC) in the Tarim Basin, which is recognized as a "forbidden zone" for exploration due to its complex geological conditions [5][8] Group 2: Technical Challenges - Drilling at such depths involves overcoming extreme environmental conditions, including temperatures reaching over 50 degrees Celsius in summer and nearly -30 degrees Celsius in winter [5][6] - The well had to penetrate 12 different geological layers, with significant variations in rock types, requiring constant adjustments to drilling techniques and equipment [6][9] Group 3: Technological Innovations - The project utilized advanced technologies, including a self-developed 12,000-meter automated drilling rig capable of lifting 900 tons, significantly enhancing operational efficiency [9][10] - A total of 10 proprietary technologies were developed for the project, including high-temperature resistant drilling fluids and high-strength drilling rods, which proved effective under extreme conditions [10][11] Group 4: Strategic Importance - The successful drilling of the Deep Taka 1 Well is crucial for China's energy security, as the country relies heavily on oil and gas imports, with a significant portion of its resources located in deep layers [11][12] - The well's completion is expected to facilitate further exploration in deep layers, which hold approximately 671 billion tons of oil equivalent, representing about 34% of China's total oil and gas resources [11][12] Group 5: Future Prospects - The completion of the Deep Taka 1 Well signifies a shift in China's drilling capabilities from occasional breakthroughs to routine operations, with plans for further deep drilling projects underway [13][14] - The exploration of deep earth is anticipated to yield valuable geological data, contributing to the understanding of ancient environments and the evolution of sedimentary basins [12][14]

Core Insights - The successful completion of China's first 10,000-meter scientific exploration well, the Deep Earth Ta Ke 1 Well, marks a significant milestone in deep earth engineering and energy security for the country [5][9][14]. Group 1: Project Overview - The Deep Earth Ta Ke 1 Well, located in the Aksu region of Xinjiang, has reached a depth of 10,910 meters, setting five drilling records [5][6][8]. - This well is part of a major deep earth engineering initiative by China Petroleum in the Tarim Basin, which is known for its complex geological conditions [6][9]. Group 2: Technical Challenges - Drilling at such depths presents extreme challenges, including high temperatures (up to 220 degrees Celsius) and pressures (up to 145 MPa), as well as complex rock formations that require frequent adjustments in drilling techniques [7][10][11]. - The project utilized advanced technology, including a self-developed 12,000-meter automated drilling rig and specialized drill bits to handle the extreme conditions [10][11]. Group 3: Geological Significance - The successful drilling of the well has provided valuable geological data from depths previously unexplored, confirming the potential for oil and gas resources in the Tarim Basin [9][12]. - The well's findings contribute to understanding ancient geological environments and the evolution of sedimentary basins, which is crucial for future exploration [13]. Group 4: Strategic Importance - The advancement in deep earth drilling technology is essential for China's energy security, as the country seeks to reduce its reliance on foreign oil and gas [12][14]. - The exploration of deep layers is becoming increasingly important as shallow resources are depleted, with significant reserves identified in depths exceeding 8,000 meters [12][14].

Core Insights - The successful drilling of the China Petroleum Deep Earth Sichuan 1 well, which has surpassed a depth of 10,000 meters, marks a significant advancement in China's exploration of deep earth energy resources [1][2] - The well is the first scientific exploration well in the Sichuan Basin to reach such depths, aimed at addressing scientific blind spots and enhancing original technology for oil and gas exploration [1] Group 1: Geological and Technical Achievements - The well has penetrated 23 geological layers and reached the 5.4 billion-year-old Sinian strata, entering the previously unexplored "no man's land" of the Sichuan Basin [1] - The drilling process faces extreme conditions, including temperatures exceeding 200 degrees Celsius and pressures over 130 MPa, which traditionally were considered barriers to oil and gas accumulation [1] - Analysis of core samples from depths over 9,500 meters indicates favorable reservoir conditions, revealing significant exploration potential in the region [1] Group 2: Technological Innovations - China Petroleum Southwest Oil and Gas Field Company has mobilized engineering expertise to tackle challenges related to efficient rock breaking, drilling tool safety, and well control [2] - The company has developed over ten advanced technologies, including a 15,000-meter intelligent drilling rig and high-temperature resistant drilling fluids, enhancing its international competitiveness in oil and gas exploration [2] - The Deep Earth Sichuan 1 well has already led to two major oil and gas discoveries, expanding the resource base in the Sichuan Basin [2] Group 3: Strategic Importance - The deep earth exploration project is likened to the lunar exploration program, highlighting its significance for national technology and resource strategy [2]

Core Insights - The 2025 Rock Mechanics and Engineering Academic Annual Conference (CHINA ROCK) will be held from October 17 to 20, focusing on the application and innovation of AI technology in deep earth engineering [1] - The conference aims to promote interdisciplinary communication and share new ideas, emphasizing the strategic importance of deep earth engineering as resources in shallow areas deplete [1][3] - The event will feature a three-tier venue model, with the main venue in Xiong'an, a central venue in Xuzhou, and satellite venues in nearby universities, facilitating knowledge sharing and academic exchange [2] Group 1 - The conference will cover six topics, including AI and deep earth engineering, deep rock mechanics, and disaster prevention [1] - The integration of AI is seen as a key driver for the intelligent transformation of engineering, aiming to convert theoretical advancements into practical applications [1][3] - The event has received over 40 paper submissions from more than 50 experts and scholars from over 20 universities and research institutions [2] Group 2 - Xuzhou, as a national sustainable development innovation demonstration city, possesses rich mineral resources and significant research advantages in deep earth energy development [3] - The Cloud Dragon Lake Laboratory, a key organizer of the conference, focuses on deep earth science and technology, aiming to cultivate high-level talent and advance strategic research projects [3] - The conference will also include sessions for promoting research achievements from professional societies and exchanges for overseas young talents [3]

Core Insights - China has achieved a significant breakthrough in the exploration of deep shale gas with the discovery of the Yongchuan shale gas field, which has an additional proven geological reserve of 124.588 billion cubic meters, marking it as another large-scale deep shale gas field exceeding 100 billion cubic meters [1][3]. Group 1: Exploration and Development - The Yongchuan shale gas field is located in the Chongqing Yongchuan District, within the complex structural area of the southern Sichuan Basin, with the main part buried deeper than 3,500 meters [3]. - The initial exploration well, Yongye 1HF, drilled in 2016, led to a major breakthrough in discovering the Yongchuan shale gas field, with an additional proven geological reserve of 23.453 billion cubic meters approved in 2019 [3]. - The total proven geological reserves of the Yongchuan shale gas field have reached 148.041 billion cubic meters, indicating a significant increase in the overall reserves [3][6]. Group 2: Technological Innovations - Innovative technologies have been developed to enhance the visibility and extraction of deep shale gas, including high-precision three-dimensional seismic data collection and new structural display mapping techniques [5]. - The implementation of a differentiated transformation approach and the development of a strong supporting volume fracturing process have significantly improved the efficiency of deep shale gas extraction, leading to a notable increase in the average economic recoverable reserves per well [6]. Group 3: Strategic Importance - The Yongchuan shale gas field is situated in the core area for increasing reserves and production of shale gas in southern Sichuan, which is crucial for ensuring national energy security [6]. - The company plans to advance the development of shale gas in the southern Sichuan region by following a strategy of "building one area, evaluating one area, and tackling challenges in one area," aiming to continuously improve the utilization rate of reserves and the recovery rate of gas fields [6][8].

Core Insights - China Petrochemical Corporation (Sinopec) has achieved a significant breakthrough in the "Deep Earth Engineering · Sichuan-Chongqing Natural Gas Base," with the Yongchuan shale gas field confirming an additional geological reserve of 124.588 billion cubic meters [1] Group 1 - The newly confirmed shale gas field marks the emergence of another large-scale deep-layer shale gas field in China, exceeding one hundred billion cubic meters in reserves [1] - This development will effectively support the construction of a natural gas production base in the Sichuan-Chongqing region, which aims to reach a production capacity of one hundred billion cubic meters [1] - The project is expected to provide a clean energy guarantee for the development of the Yangtze River Economic Belt [1]

Core Insights - China Petroleum & Chemical Corporation (Sinopec) has achieved a significant breakthrough in the "Deep Earth Engineering · Sichuan-Chongqing Natural Gas Base" with the confirmation of an additional proven geological reserve of 124.588 billion cubic meters in the Yongchuan shale gas field, marking the establishment of another large-scale deep shale gas field in China with reserves exceeding 100 billion cubic meters [1][2] Group 1: Geological and Technical Developments - The Yongchuan shale gas field is located in the Yongchuan District of Chongqing, within the complex structural area of the southern Sichuan Basin, with the main section buried deeper than 3,500 meters [2] - The initial exploration well, Yongye 1HF, drilled in 2016, led to a major breakthrough in discovering the Yongchuan shale gas field, with an additional proven geological reserve of 23.453 billion cubic meters confirmed in 2019 [2] - The total proven geological reserves of the Yongchuan shale gas field have reached 148.041 billion cubic meters following ongoing exploration efforts [2] Group 2: Innovative Techniques and Efficiency Improvements - The research team collected extensive high-precision 3D seismic data and conducted multiple rounds of integrated geological, geophysical, and engineering research, leading to the development of new structural imaging techniques and high-precision imaging technologies [4] - Innovations in differential transformation strategies for deep shale gas and the creation of strong support volume fracturing technology have significantly improved the efficiency of shale gas extraction, resulting in a notable increase in the average economic recoverable reserves per well [4] Group 3: Strategic Importance and Future Plans - The Yongchuan shale gas field is situated in the core area for increasing reserves and production of shale gas in southern Sichuan, which is crucial for ensuring national energy security [6] - The company plans to advance shale gas development in the southern Sichuan region by following a strategy of "building one area, evaluating one area, and tackling challenges in one area," aiming to steadily enhance reserve utilization rates and gas field recovery rates [6] - Sinopec has been actively promoting deep natural gas exploration and development in the Sichuan Basin, which is rich in deep oil and gas resources, contributing significantly to the country's green and low-carbon development [6]

Core Insights - The Yongchuan shale gas field has been confirmed to have a geological reserve of 1480.41 billion cubic meters, marking a significant breakthrough in deep shale gas exploration in the Sichuan Basin [1][4] - The innovative technologies developed for deep shale gas extraction have significantly improved the efficiency of gas production, addressing previous challenges in visibility and extraction [1] - The exploration and development of shale gas in the Sichuan Basin is crucial for national energy security and has vast potential for future growth [2] Group 1 - The Yongchuan shale gas field is located in the complex structural area of the southern Sichuan Basin, with the main part buried deeper than 3500 meters [1] - In 2019, an additional geological reserve of 234.53 billion cubic meters was approved, contributing to the overall confirmed reserve [1] - The innovative techniques include high-precision 3D seismic data collection and new imaging technologies, which have resolved issues related to the visibility and characterization of deep shale gas [1] Group 2 - Liu Wei, a representative from Sinopec, emphasized the broad distribution and significant resources of shale gas in the southern Sichuan Basin, highlighting the promising exploration and development prospects [2] - The next steps involve a systematic approach to shale gas development in the region, focusing on construction, evaluation, and technological breakthroughs [2] - The "Deep Earth Engineering · Sichuan-Chongqing Natural Gas Base" is a key component of Sinopec's deep earth engineering initiatives, showcasing the company's commitment to exploring deep oil and gas resources [2] Group 3 - The recent approval of an additional geological reserve of 1245.88 billion cubic meters for the Yongchuan shale gas field marks the establishment of another large-scale deep shale gas field in China [4] - This development supports the construction of a thousand billion cubic meter production base in the Sichuan-Chongqing region, providing clean energy for the Yangtze River Economic Belt [4]

Group 1: Company Overview and Strategy - The company leverages over 30 years of technological advantages in the oil equipment sector to provide comprehensive solutions for deep earth engineering, addressing high-pressure and high-temperature challenges in deep well exploration [2][3] - The company aims to expand its international market presence, particularly in regions along the "Belt and Road" initiative, enhancing its global competitiveness [4][10] Group 2: Financial Performance and Projections - In 2024, the company achieved overseas revenue of 161 million CNY, accounting for 21.91% of total revenue [9][10] - The company has no current plans for share repurchase or significant shareholder changes, focusing instead on maintaining market value and long-term investment [6][8] Group 3: Technological Advancements - The company is actively pursuing digital transformation and AI integration, with global oil service digital investment projected to reach 37 billion USD by 2025 [7] - The company has developed a digital strategy for AI smart well sites, transitioning from a core equipment provider to a comprehensive solution provider [7][12] Group 4: Market Challenges and Responses - The impact of the US-China trade war is minimal, as direct sales to the US accounted for less than 1% of total revenue [4] - The company is enhancing its local operations strategy to mitigate risks and improve market responsiveness in overseas markets [4] Group 5: Future Developments and Innovations - The company is focusing on hydrogen energy through its investment in Han Hydrogen Power, with applications in over 1,500 hydrogen fuel vehicles and 500 hydrogen-powered drones [11] - Plans for deep-sea equipment development are underway, with recent contracts for offshore oil fields and contributions to China's first deep-sea drilling vessel [20]