Core Viewpoint - Shengli Oilfield continues to show an upward trend in crude oil production, achieving 11.7535 million tons in the first half of the year, exceeding the plan by 16,000 tons, alongside natural gas production of 470 million cubic meters, surpassing the plan by 7.4 million cubic meters [2] Group 1: Production and Exploration Achievements - The oilfield completed 54 exploratory wells and drilled 176,300 meters in the first half of the year, with a success rate of 66.7% [3] - Significant breakthroughs were made in the Jiyang shale oil and conventional exploration areas, with commercial production capacity achieved in the eastern exploration area and important breakthroughs in the western exploration area [3] - New production capacity of 1.229 million tons was added in the first half of the year, an increase of 112,000 tons year-on-year, with a single well capacity compliance rate of 95.8%, up by 9.1% [3] Group 2: Enhanced Recovery Techniques - The oilfield implemented refined water injection management and advanced chemical flooding techniques, resulting in an increase of 736,000 tons of oil in the first half of the year [4] - The comprehensive water content was controlled within 92.3%, with a steady decrease in natural decline rates [4] Group 3: Operational Efficiency and Safety - The oilfield focused on maximizing overall efficiency through collaboration between specialized and development units, achieving a reduction in average single well cycle time by 0.2 days [5] - Safety measures were prioritized, with nearly 1,400 emergency drills conducted, significantly enhancing safety awareness and operational capabilities [5] Group 4: Technological Innovation - A total of 649 research projects were implemented in the first half of the year, including 15 national projects, with 28 provincial and ministerial awards received [6] - The new variable elastic particle oil recovery technology won a gold medal at the 50th Geneva International Invention Exhibition, showcasing the oilfield's commitment to innovation [6]