Core Viewpoint - The "Bali West Potential Mountain CCUS Pilot Project" by China Petroleum's North China Oilfield has successfully injected 300,000 tons of carbon dioxide, equivalent to the effect of planting approximately 2.48 million trees, marking significant progress towards achieving carbon neutrality goals in the Beijing-Tianjin-Hebei region [1][4]. Group 1 - The CCUS pilot project commenced in 2022 and is located in Cangzhou, Hejian City, Hebei Province, focusing on the Bali West potential oil reservoir, which is in the late stage of high water cut development [4]. - The project aims to address the technical challenges of utilizing large amounts of remaining oil through CCUS, combining oil and gas production with technological advancements [4]. - Key technological breakthroughs include research on CO2 miscible flooding and storage mechanisms, geological modeling, and optimization of injection and production parameters, along with the establishment of supporting engineering technologies [4]. Group 2 - The project has constructed a pilot test station, a measurement point, and over 20 kilometers of oil collection and CO2 pipelines, creating a green circular model within the company [4]. - It is expected that the project will cumulatively store 8.47 million tons of CO2 and increase oil production by over 3 million tons, improving the oil recovery rate by 27% [4]. - The Bali West CCUS pilot project is part of China Petroleum's key engineering initiatives, representing a historic leap from "zero" to "one" in CCUS projects for the North China Oilfield [4].