Core Viewpoint - The company is implementing a "precision" strategy in oilfield development to enhance production and efficiency, focusing on meticulous management to stabilize output and achieve annual targets [2] Group 1: Development Strategy - The company has initiated a comprehensive investigation covering underground, wellbore, and surface operations to support precision development [2] - A large database has been established, encompassing 158,000 data items, to provide a detailed "digital map" for subsequent strategies [2] Group 2: Production Optimization - The company is optimizing water injection cycles and finely tuning fracture controls to improve reservoir utilization and expand water drive coverage [2] - Innovative overpressure water injection experiments have shown initial success in increasing oil output while reducing water content [2] Group 3: Efficiency Improvements - The company has strengthened the analysis and management mechanism for problematic wells, reducing the average processing time by 5 days to minimize production losses [2] - The natural decline rate for the year has been maintained at a low level, demonstrating effective management and potential in complex mature fields [2]

Core Insights - Daqing Oilfield has initiated a precision development demonstration project in the Xinnan Oilfield, utilizing well network reconstruction technology and refined water drive adjustments to achieve stable and increasing production levels [1][3] - The seventh operation area of the fifth oil production plant has exceeded production targets, with primary wells reaching 100% of planned output [1] Group 1: Production and Technology - The Xinnan Oilfield is characterized by high water content and high extraction levels, facing challenges such as interlayer conflicts and declining development effectiveness after over 50 years of exploitation [3] - Conventional water drive adjustment measures have proven ineffective in improving development outcomes, making it difficult to extract remaining oil [3] - The precision development demonstration project is a key annual initiative aimed at addressing significant production and technical challenges in aging oil fields, contributing to long-term benefit development [3] Group 2: Efficiency and Results - The technical team aims to control the decline rate and improve the recovery rate, establishing an efficient extraction model supported by comprehensive well network utilization technology and precise fracturing technology for thin layers [3] - The pilot test in the western part of the 10th district of the Xinnan Oilfield has shown significant results, with the comprehensive water content at 95.7%, which is 0.7 percentage points lower than the numerical model prediction, providing strong support for stable production and efficient extraction [3]