作为全球海工装备领域的新锐，FLNG在海洋能源开发中扮演着不可或缺的关键角色。虽商业化未满十 年，但FLNG作为技术壁垒最高、造价最高昂、附加值最大的高端海工装备之一，被誉为"皇冠上的新 明珠"。在这个曾被国际海工巨头长期垄断的领域，惠生清能以超30%的全球份额强势破局，不仅是中 国唯一具备FLNG总包承建能力和拥有交付记录的企业，更是跻身全球第一梯队，成为全球唯一实现独 立总包交付FLNG项目的企业，彻底重塑全球市场格局。 在碧波浩渺的西非海域，一座钢铁巨构静立洋面。它没有破浪的螺旋桨，也非流线型船身，却藏着"海 上超级工厂"的硬核实力，这便是全球仅7艘在运营的FLNG（浮式液化天然气生产储卸装置）之 一"Tango FLNG"。它隶属于意大利油气巨头ENI，其建造者则是一家来自中国的高端海工装备企业—— 惠生清洁能源科技集团股份有限公司（以下简称"惠生清能"）。 惠生清能不仅是破局者，更是协同者和引领者：带领国内供应链企业协同出海，让中国海工装备产业在 全球竞争中从单个企业突围升级为产业集群作战，大幅提升了全球市场话语权；以技术溢价替代价格竞 争的新范式打破内卷，引领国内海工装备产业形成向上突破的良性生态 ...

Core Insights - The "Deep Sea No. 1" Phase II project has achieved full production, marking it as the largest offshore gas field in China with a maximum daily output of 15 million cubic meters [2][4] - This gas field is notable for being the deepest and most challenging to develop in terms of geological conditions, with 12 underwater wells exceeding 60,000 meters in total depth, temperatures reaching 138 degrees Celsius, and pressures up to 69 MPa [4][6] - The successful completion of the project is a significant milestone for China's deep-water high-pressure gas development, positioning the country among global leaders in this field [6][9] Production Capacity and Technical Challenges - The "Deep Sea No. 1" gas field consists of 23 underwater gas wells, all operational, contributing to a projected annual gas output of over 4.5 billion cubic meters [2][9] - The project faced extreme geological challenges, including high temperature and pressure, requiring innovative solutions and extensive research to ensure safe and efficient drilling operations [4][7] - The development of the underwater production system involved complex equipment and technology, with a focus on optimizing production management and simulating various operational scenarios [4][5] Technological Innovations and Achievements - The project has led to the creation of five world-first key technologies for drilling high-pressure wells, enhancing operational efficiency by over 30% [9] - A significant achievement includes the successful development of domestically produced high-density completion fluids, which saved nearly 100 million yuan in operational costs [7][9] - The establishment of a complete technical system for deep-water gas field development is expected to facilitate the economic and efficient development of other complex offshore oil and gas reserves in the future [10] Strategic Importance - The "Deep Sea No. 1" gas field is crucial for China's energy supply, with marine oil and gas production becoming a primary focus, accounting for approximately 80% of the national crude oil increase in 2024 [6][10] - The gas produced will support industrial and residential users in the Guangdong-Hong Kong-Macao Greater Bay Area and Hainan Free Trade Port, integrating into the national gas pipeline network [9][10]

Group 1 - The National Petroleum and Natural Gas Index (399439) has shown a slight increase of 0.30% as of May 19, 2025, with notable gains in constituent stocks such as Huajin Co. (000059) up by 3.62% and Lansi Heavy Industry (603169) up by 2.22% [1] - The Oil and Gas ETF (159697) has risen by 0.52%, currently priced at 0.97 yuan, indicating a positive trend in the oil and gas sector [2] - Recent innovations in key technologies for oil and gas exploration and development have positioned shale gas as a significant area for sustainable resource development in China, with major shale gas demonstration zones established in the Sichuan Basin [2] Group 2 - The Sichuan Basin has identified eight shale gas fields with a total resource volume of 16.5 trillion cubic meters, contributing to national energy security through the localization of critical equipment and tools [2] - East China Securities anticipates a recovery in trade, which will positively impact oil demand, predicting that oil prices may bottom out in the second quarter and recover thereafter, benefiting upstream resource companies [2] - Guoxin Securities highlights the vast potential for deep-sea oil and gas development in China's northern and central southern South China Sea, supported by relevant technological policies [2][3] Group 3 - As of April 30, 2025, the top ten weighted stocks in the National Petroleum and Natural Gas Index account for 66.65% of the index, with major players including China National Petroleum (601857) and China Petroleum & Chemical (600028) [3]

Group 1 - China National Offshore Oil Corporation (CNOOC) has achieved a significant milestone by completing a deepwater drilling operation in 11.5 days, setting a new record for drilling cycles in the 3500-4000 meter range in China [1] - The breakthrough validates the advanced nature of China's independent deepwater drilling and completion technology system, which is crucial for promoting large-scale growth of deepwater oil and gas resources [1][2] - Since the 14th Five-Year Plan, the volume of deepwater drilling and completion operations in China has increased by over 74% compared to the previous five years, supporting the production of large deepwater oil and gas projects [1] Group 2 - CNOOC's drilling team has successfully tackled four major global technical challenges in deepwater, deep-layer, high-temperature, and high-pressure environments, enhancing pressure control precision to within 0.2 MPa [2] - The successful drilling of the Lingshui 36-1 gas field and the "Deep Sea No. 1" project demonstrates the potential of China's deepwater carbonate exploration [2] - CNOOC aims to further advance deepwater oil and gas development technologies towards deeper and faster operations, transitioning from experience-driven to data-driven and intelligent decision-making processes [3]

Core Insights - China National Offshore Oil Corporation (CNOOC) announced the successful completion of a deepwater drilling operation in 11.5 days, setting a new record for drilling cycles in the 3500-4000 meter range in China [5][6] - The sixth-generation domestically designed semi-submersible platform "Fengjin" has demonstrated advanced capabilities in deepwater drilling, contributing significantly to China's oil and gas resource development goals [6][9] Group 1: Technological Advancements - "Fengjin" is China's first sixth-generation semi-submersible drilling platform, capable of operating at a maximum water depth of 3000 meters and drilling to depths of 10000 meters, with a wind resistance capacity of level 17 [7] - The platform has achieved a 93% operational efficiency during its initial drilling, surpassing international counterparts [7] - CNOOC has developed a complete technical system for deepwater drilling, transitioning from reliance on imports to self-sufficiency in key technologies [9] Group 2: Milestones and Achievements - In 2014, "Fengjin" achieved the first significant oil and gas discovery in China's self-operated deepwater exploration at the Lingshui 17-2 gas field, with a production capacity of 56.5 million cubic feet per day, equivalent to 9400 barrels of oil [8] - The platform has set multiple records over the years, including the shortest drilling cycle for high-temperature and high-pressure wells and the deepest operational depths in both China and the Asia-Pacific region [10][11] - CNOOC's deepwater drilling teams have grown to 10 teams with over 1200 trained professionals, marking a significant development in China's deepwater drilling capabilities [7][9]

Core Viewpoint - China National Offshore Oil Corporation (CNOOC) has achieved a significant milestone by completing a deepwater drilling operation in 11.5 days, setting a new record for drilling cycles in ultra-deep water depths of 3500 to 4000 meters, showcasing the advanced capabilities of China's independent deepwater drilling technology [2][3]. Group 1: Technological Advancements - The successful drilling operation demonstrates the effectiveness of China's complete technical system for deepwater drilling and the "intelligent" technology strength in the ultra-deepwater drilling sector [2]. - CNOOC has developed a unique deepwater intelligent drilling technology system and lean management model, breaking down drilling tasks into hundreds of routine operations, which enhances safety and efficiency throughout the drilling process [2]. Group 2: Industry Growth and Impact - Since the 14th Five-Year Plan, the volume of deepwater well drilling operations in China has increased by over 74% compared to the previous five years, supporting the production of large deepwater oil and gas projects and the continuous rise in marine oil and gas output [3]. - Major projects such as the "Deep Sea No. 1" and the Lingshui 36-1 gas fields have been efficiently drilled, contributing to the large-scale development of complex offshore oil and gas resources and accelerating the growth of China's marine drilling equipment industry [3]. Group 3: Future Directions - CNOOC aims to further advance deepwater oil and gas development technologies towards deeper and faster drilling, transitioning from experience-driven to data-driven and intelligent decision-making processes [3]. - The breakthroughs in deepwater drilling technology not only enhance operational efficiency and safety but also provide a "Chinese solution" for global deep-sea oil and gas development, highlighting China's independent innovation capabilities in marine technology [3].