Core Viewpoint - The development of a multifunctional long-lasting polymer treatment agent by the Zhongyuan Petroleum Engineering Company has shown significant advancements in drilling fluid performance under extreme conditions, providing strong technical support for the efficient development of deep wells, ultra-deep wells, and shale gas horizontal wells [1][3]. Group 1: Technological Advancements - The new polymer treatment agent can maintain stable fluidity at high temperatures of 220°C, demonstrating excellent performance in high temperature, high salinity, and high density conditions [1][3]. - The introduction of the "suspended group" concept in molecular design allows the treatment agent to adapt to varying conditions, ensuring both fluidity during drilling and stability when stationary [2][3]. Group 2: Efficiency and Cost-Effectiveness - The new treatment agent consolidates multiple functions, reducing the number of required treatment agents from over ten to just two or three, leading to a reduction in total usage by over 30% [3][4]. - The cost of the new agent is comparable to common drilling fluid polymer stabilizers, while its performance surpasses that of traditional materials, achieving the goal of "low cost and multifunctionality" [3][4]. Group 3: Environmental Considerations - The production process utilizes "inverse micro-suspension polymerization" technology, which minimizes waste and pollution, resulting in a product that dissolves faster than traditional powders [4]. - The treatment agent has been tested in nearly 300 wells, with experimental results exceeding design indicators, indicating its practical applicability [4].

Core Viewpoint - China Petroleum Engineering (600339.SH) announced that its wholly-owned subsidiary, China Petroleum Pipeline Bureau Engineering Co., Ltd., has received a project award letter from Iraq's Basra Oil Company for the Basra seawater pipeline project, with a contract value of $2.524 billion (approximately 18.032 billion RMB) and a contract duration of 54 months [1] Group 1 - The awarded project involves the construction of seawater treatment facilities, main pipelines from the treatment facilities to various junction stations, branch pipelines from junction stations to oil field distribution stations, and associated ground facilities [1] - The project contract period consists of 42 months for design, procurement, construction, and trial operation, followed by 12 months for operation maintenance and training [1]

Core Viewpoint - The demand for high-quality engineering talent in China is rapidly increasing due to the development of advanced manufacturing and strategic emerging industries, with the "Excellent Engineer" program being a key initiative to cultivate such talent [1][2][6]. Group 1: Employment and Education Reform - The first cohort of graduates from the Excellent Engineer program achieved a high-quality employment rate, with 71% remaining in their field [2]. - The program aims to innovate the training mechanism for engineers, moving beyond traditional education models to establish new standards in global engineering education [2][5]. - The initiative is part of a broader strategy to align educational outcomes with national strategic needs, emphasizing the importance of practical experience in engineering education [6][15]. Group 2: Collaboration Between Academia and Industry - A total of 40 National Excellent Engineer Colleges have been established in collaboration with top universities and leading enterprises, including Tsinghua University and China Aerospace Science and Industry Corporation [3]. - The program emphasizes a dual mentorship model where students receive guidance from both academic and industry mentors, ensuring that their research aligns with real-world applications [9][10]. - Companies like China Electronics Technology Group and China National Petroleum Corporation are actively involved in the training process, providing students with access to cutting-edge projects and research opportunities [12][14]. Group 3: Future Directions and Standards - The Ministry of Education plans to expand the Excellent Engineer training model to all engineering master's and doctoral programs by 2030, aiming for over half of these institutions to establish their own Excellent Engineer Colleges [16][18]. - A new certification standard for the Excellent Engineer program is set to be released, which will focus on integrating education and industry needs, thereby enhancing the quality of talent development [17][18]. - The initiative seeks to fill a gap in international engineering education standards, particularly for master's and doctoral levels, positioning China as a leader in this area [17][18].

Group 1 - The core viewpoint of the article highlights the positive progress made in the reform of the training of outstanding engineers in China, with over 2,100 master's graduates from the first batch applying for degrees based on practical achievements [1][2] - The Ministry of Education has identified issues in engineering education, such as weak faculty strength and a disconnect between research tasks and engineering capability training, prompting a reform initiative involving nine departments [1] - The new evaluation standards for engineering master's and doctoral degrees will allow practical achievements to be considered alongside traditional thesis work, effective from January 2025, breaking the "thesis-only" evaluation barrier [1][2] Group 2 - Zhang Baichuan, a graduate from China University of Petroleum (Beijing), exemplifies the success of the practical achievement-based degree application process, having contributed to industry standards and published research [2] - The Ministry of Education plans to deepen the reform by releasing the "Outstanding Engineer Training Certification Standards" in September, aiming to enhance the integration of education and industry [2]

Core Viewpoint - The company has signed an EPSCC contract worth $294 million (approximately 2.12 billion RMB) with TotalEnergies for the midstream gas pipeline project in Iraq's Atawi oil field, which is expected to positively impact the company's revenue and profit over the next 3-4 years [1] Group 1 - The contract duration is set for 33 months to reach trial operation conditions, 36 months for temporary acceptance, and 38 months for submission of completion documents, followed by a 24-month warranty period [1] - This project is a significant part of TotalEnergies' integrated gas growth initiative (GGIP project), aimed at enhancing Iraq's electricity supply capacity through the development of natural resources [1] - Successful implementation of the contract is anticipated to have a positive effect on the company's future operating income and total profit [1]

Core Insights - The SP158 team of Sinopec has achieved a significant milestone by being awarded the "15 Years of Accident-Free Safety" honor by Kuwait Oil Company (KOC), marking a record for Sinopec in Kuwait and making SP158 the first drilling team in KOC's history to receive this accolade [1] Group 1: Safety Achievements - SP158 team has maintained a continuous safe production record of 5,485 days and completed 130 wells, ranking among the top teams out of 130 at KOC [1] - The team has been recognized for its safety management practices, which include innovative safety mechanisms and a strong safety culture [4][6] Group 2: Technical Collaboration - SP158 has become KOC's preferred partner for technical innovation, successfully completing high-risk projects such as the RA104 well and the SA-861 well, setting records for safety and efficiency [2] - The team has implemented new technologies and processes, creating a closed-loop collaboration model that emphasizes safety and technical problem-solving [2] Group 3: Talent Development - SP158 is recognized as a "drilling safety training school," having trained numerous foreign drilling engineers and developed key technical personnel for both Sinopec and KOC [3] - The team fosters a strong learning and mutual support culture, which is highly valued by KOC [3] Group 4: Management Innovations - The team has introduced a dual mechanism of "Safety Micro Groups" and overseas safety inspections, creating a comprehensive management system for daily safety oversight [4] - Employee engagement in safety reporting has increased, with over 1,200 suggestions collected, leading to the development of standardized operating procedures [4] Group 5: Cultural Cohesion - SP158 promotes a "family culture" that bridges cultural differences among its diverse workforce, enhancing trust and collaboration [6] - The team integrates safety awareness into family life, encouraging employees to share their family connections and safety commitments [5][6]

Core Viewpoint - The company emphasizes green drilling practices while achieving significant economic benefits, showcasing a commitment to both environmental protection and operational efficiency [1][2]. Group 1: Economic Performance - The newly launched three wells at the Shengli Oil Engineering Company have achieved an initial daily oil production exceeding 100 tons, resulting in good economic returns [1]. - The company reported a drilling footage of 1.8642 million meters, exceeding the scheduled progress by 6.43%, with a year-on-year increase of 177,100 meters in the first five months [2]. Group 2: Environmental Initiatives - The company has established a carbon asset management platform and developed a carbon footprint model, filling a gap in the carbon footprint standard system for the oil and gas drilling industry [2]. - The company has implemented a "zero waste" initiative, retiring old drilling platforms and high-energy-consuming rigs, while promoting the use of automated and electrified drilling equipment [2]. - The company has committed to environmental promises, ensuring no gas emissions, noise disturbances, water discharge, or oil spills during operations [2]. Group 3: Green Development Strategies - The company has initiated a comprehensive green low-carbon work implementation plan, focusing on reducing carbon emissions and enhancing green development [1]. - The company is advancing projects in geothermal power generation, natural gas hydrate development, and in-situ combustion power generation from deep coal seams [3]. - A one-stop material supply system has been established to create an automated green supply chain, including the transportation of 100,000 tons of fracturing sand and 100,000 bags of chemicals [3].

Core Viewpoint - The successful application of self-suspending sand fracturing technology marks a significant advancement in efficient and environmentally friendly fracturing techniques for the company [1][3]. Group 1: Technology and Innovation - The self-suspending sand fracturing technology was tested in the Yi 81 and Zhuang 80 well groups, achieving a 100% success rate in five wells and seven segments of fracturing operations [1]. - This technology differs from conventional fracturing methods by utilizing a unique proppant design that allows for better sand suspension and flow, addressing common challenges such as sand blockage and uneven distribution [1]. - The technology's effectiveness was further validated in the commercial application at the Shang 541-Oblique 25 well, which resulted in a significant increase in average daily oil production [2]. Group 2: Research and Development - The company has established a comprehensive research framework that includes material modification, process optimization, and on-site adaptation to support the self-suspending sand fracturing technology [2]. - Prior to the application, the technical team conducted in-depth analyses of geological conditions and reservoir characteristics to develop precise fracturing plans [2]. - Extensive laboratory evaluations were performed to optimize the properties of the self-suspending sand, leading to the formulation of the most effective fracturing fluid and operational parameters for the project [2]. Group 3: Operational Efficiency - The successful implementation of the self-suspending sand fracturing technology exemplifies the company's integrated operational model, which combines geological analysis, design, construction organization, and material optimization [3]. - The on-site technical team effectively monitored and adjusted the sand ratio during operations, achieving over 35% conventional proppant sand ratio and an 80% reduction in resistance, resulting in a highly efficient fracturing process [2].

Core Viewpoint - The recent notification from the National Energy Administration aims to promote the construction of a new power system through seven key directions, which is expected to improve the consumption situation of renewable energy and benefit leading national renewable energy generation companies [2][3]. Group 1: Market Performance - As of June 6, 2025, the China Securities National New State-Owned Enterprises Modern Energy Index (932037) increased by 0.19%, with notable gains from Yunnan Copper (000878) at 1.61% and China Power Construction (601669) at 1.48% [1]. - The National State-Owned Enterprises Modern Energy ETF (561790) rose by 0.28%, with a recent price of 1.06 yuan, and has accumulated a 1.93% increase over the past month [1]. Group 2: Policy Impact - The notification outlines seven focus areas for pilot projects, including grid-structured technology, system-friendly renewable power plants, smart microgrids, and virtual power plants, which are expected to catalyze advancements in the energy sector [2]. - The emphasis on clean and efficient transformation of coal power units is anticipated to stimulate demand for zero-carbon and low-carbon fuels, aiding the successful transition of coal power and enhancing profitability and valuation [2][3]. Group 3: ETF Performance Metrics - The China Securities National New State-Owned Enterprises Modern Energy ETF has recorded a maximum monthly return of 10.03% since its inception, with an average monthly return of 3.17% and a historical one-year profit probability of 76.10% [3]. - As of June 5, 2025, the ETF's maximum drawdown this year was 7.91%, with a management fee of 0.50% and a custody fee of 0.10%, making it one of the lowest in its category [3]. Group 4: Top Holdings - As of May 30, 2025, the top ten weighted stocks in the index accounted for 51.1%, with Changjiang Electric (600900) leading at 10.48% [4][5].

Core Viewpoint - The company is focusing on innovation-driven approaches to enhance core technologies and resource utilization in the oil and gas exploration and development sector, thereby strengthening national energy security [2]. Group 1: Innovation in Drilling Tools - The technical team is conducting 3D modeling analysis to address structural defects in traditional drill rods, which can lead to stress concentration and leakage accidents [3]. - New high-torque drill tools have been developed, significantly improving torque resistance by over 60% compared to conventional drill rods, while also reducing drilling fluid flow resistance [3]. - The new drill tools have completed operations on 14 wells, achieving a reduction in casing pressure by 1 to 1.5 MPa per kilometer and saving over 2000 kWh of electricity per day during drilling [3]. Group 2: Enhancing Exploration Efficiency - The company has established a collaborative innovation system that integrates production, learning, research, and application, promoting seamless connections between technology development and production needs [4]. - An intelligent well control system has been developed, improving emergency response speed by over 65% through a one-click shut-in feature [4]. Group 3: Accelerating Technology Application - A closed-loop mechanism has been created to ensure that frontline needs are met through technical breakthroughs and field validation, resulting in 23 improvement suggestions, with 15 already implemented [5]. - Innovations such as a high-capacity pressure testing vehicle and a tapered rubber core gate have been developed to enhance drilling efficiency and reduce operational time by 2 to 3 hours per well [5]. Group 4: Resource Optimization - The company is implementing a dual-track development model focusing on "remanufacturing + modification" to enhance cost efficiency [6]. - Over 100 old heavy drill rod joints have been remanufactured using friction welding technology, effectively extending the service life of drilling tools [6]. - New seamless integrated structures have been developed to improve the sealing strength and impact resistance of gas discharge pipelines, reducing leakage risks [6]. Group 5: Advanced Repair Techniques - Laser cladding technology is being utilized to repair worn-out drill tools, effectively restoring their load-bearing capacity and addressing risks associated with long-term use [7]. - The company aims to become a leading provider of drilling tool technology in the industry, continuously focusing on technological innovation to bolster national energy security [7].