Core Viewpoint - The collaboration between Shengli Oilfield and Qilu Petrochemical has led to the establishment of China's first million-ton-level CCUS (Carbon Capture, Utilization, and Storage) demonstration project, effectively addressing key technical challenges in low-cost carbon capture, long-distance CO2 pipeline transportation, and geological storage in oil and gas fields, achieving a dual win of increased oil production and reduced carbon emissions [1][2][3]. Group 1: Project Overview - The CCUS project has injected over 2 million tons of CO2 since its inception, increasing daily oil production in the demonstration area from 220 tons to 460 tons [1]. - The project captures CO2 from Qilu Petrochemical's coal-to-hydrogen industrial tail gas, liquefies it, and transports it to Shengli Oilfield for oil recovery and storage [3]. - The project covers 12 oil reservoir blocks, with a design of 73 gas injection wells and 166 oil production wells, along with the construction of 15 gas injection stations and 2 centralized processing stations [3]. Group 2: Technical Innovations - Shengli Oilfield has established a "Key Laboratory for Carbon Capture, Utilization, and Storage" to enhance research and development in CCUS technologies [2]. - The project has developed various experimental devices for gas drive physical simulation, geological safety, and gas drive efficiency, leading to breakthroughs in CO2 high-pressure miscible flooding theory [2][9]. - A dedicated 109-kilometer CO2 transportation pipeline with an annual capacity of 1 million tons was constructed, addressing the challenges of long-distance CO2 transportation [5][6]. Group 3: Equipment and Methodology - The project utilizes a self-developed CO2 booster pump to maintain supercritical pressure during transportation, which is crucial for long-distance and low-cost CO2 delivery [6][7]. - The CCUS demonstration area is designed to inject over 10 million tons of CO2 over 15 years, with an expected increase in oil production of nearly 3 million tons [8][9]. - The project has led to the development of four national and industry CCUS standards, with 56 patents and 11 software copyrights granted [9].

Group 1: Event Overview - The 19th Yulin International Coal and High-end Energy Chemical Industry Expo and the 3rd Western Hydrogen Energy Expo showcased advancements in the coal and energy sectors, highlighting Yulin's energy transformation and global business connections [1] - Hydrogen fuel cell vehicles were introduced, capable of traveling 400 kilometers on a single hydrogen fill, with a total of 15,000 kilometers safely operated, resulting in a carbon reduction of nearly 10 tons [1] Group 2: Technological Advancements - The coal industry is undergoing a shift from mechanization to automation, with intelligent robots capable of distinguishing coal from gangue, performing up to 6,000 grabs per hour [2] - The Shaanxi Coal and Chemical Industry's Caijiatang Mine has implemented a smart mining system, reducing underground inspection personnel from 15 to 5 and significantly enhancing safety and efficiency [2][4] Group 3: Policy Support - The establishment of the Yulin Energy Revolution Innovation Demonstration Zone by the National Development and Reform Commission and the National Energy Administration provides strong support for intelligent construction in the coal industry [3] - Yulin has built 31 intelligent mines and 85 intelligent coal mining faces, with 78.7% of production capacity being intelligent and 99% of coal mines achieving comprehensive mechanization [4] Group 4: Green Transition - The expo highlighted green low-carbon technologies, particularly CCUS (Carbon Capture, Utilization, and Storage), which has been implemented in Yulin with a large-scale demonstration project capturing and storing CO2 from power plant emissions [5][6] - Yulin is actively exploring pathways for carbon reduction and has a clear top-level design and policy support for its green transition, including the development of coal-based special fuels and biodegradable materials [6][7] Group 5: Hydrogen Energy Development - The hydrogen energy industry is a key component of Yulin's green transition, with a complete hydrogen energy industrial chain being showcased at the expo [7][8] - Yulin plans to invest 300 million yuan annually to support hydrogen energy development, aiming to establish itself as the "Hydrogen Energy Capital of the West" by 2030, with plans for 10,000 hydrogen heavy trucks and 5,000 public transport vehicles [8]

Core Insights - China National Offshore Oil Corporation (CNOOC) has successfully achieved a significant milestone in carbon capture and storage (CCS) with its Enping 15-1 oilfield project, having stored over 100 million cubic meters of carbon dioxide, equivalent to the carbon offset of planting 2.2 million trees [3] Group 1: Project Overview - The Enping 15-1 oilfield is China's first offshore high carbon dioxide content oilfield, which, if developed conventionally, would lead to increased carbon emissions and corrosion of offshore facilities [3] - CNOOC has invested four years in research to implement the first offshore CCS project in China at this oilfield, achieving an annual carbon dioxide storage capacity exceeding 100,000 tons [3] Group 2: Technological Advancements - In May, the first offshore carbon capture, utilization, and storage (CCUS) project was launched at the Enping 15-1 platform, marking a comprehensive upgrade in offshore CCUS technology, equipment, and engineering [3] - The project introduces a new model of marine energy recycling, termed "carbon-driven oil, oil-solid carbon," which enhances oil production while simultaneously achieving carbon dioxide storage [3]

Core Viewpoint - The recent progress in China's first offshore carbon dioxide (CO2) storage demonstration project indicates the maturity of the country's offshore CO2 storage technology, equipment, and engineering capabilities [1] Group 1: CCUS Technology Overview - Carbon Capture, Utilization, and Storage (CCUS) is a technological approach that allows fossil fuels to be considered "zero-carbon" energy sources by capturing CO2 emissions from sources like power plants and vehicles [1] - The CCUS process consists of three main steps: capturing CO2 from emissions, utilizing it in various applications, and finally storing it safely underground [2] Group 2: Steps of CCUS - **Capture**: Various technologies are employed to extract CO2 from high-temperature waste gases in industries such as power generation and cement production, using methods like chemical absorption, membrane separation, and cryogenic condensation [2] - **Utilization**: CO2 can be transformed from waste into valuable resources, such as enhancing oil recovery, producing fertilizers, methanol, synthetic fuels, and even carbonated beverages [2] - **Storage**: CO2 is compressed into a high-density fluid and injected into stable geological formations, such as saline aquifers or depleted oil and gas reservoirs, where it can be securely stored for hundreds to thousands of years [2] Group 3: Current Status and Future Prospects - Globally, CCUS is transitioning from experimental technology to commercial application, with over 20 CCUS demonstration projects operational in China across various industries, enhancing overall storage capacity [3] - China's first offshore CCUS project is expected to inject over 1 million tons of CO2 in the next decade while increasing oil production by 200,000 tons [3] - Despite challenges such as high costs and inadequate infrastructure, the future of CCUS remains promising, particularly in hard-to-decarbonize sectors like steel, cement, and chemicals, contributing to global climate goals [3]

Core Viewpoint - The establishment of the International CCUS (Carbon Capture, Utilization, and Storage) Technology Innovation Cooperation Organization aims to create a global platform for sharing and collaboration, promoting technological innovation and high-quality development in the CCUS industry to address climate change and achieve green low-carbon development [1][2]. Group 1: Organization and Goals - The International CCUS Technology Innovation Cooperation Organization was launched in Beijing, guided by the China Association for Science and Technology and led by Sinopec, with participation from 50 influential entities and individuals [1]. - The organization seeks to gather high-end think tank resources globally, drive technological iteration and innovation application, and foster a collaborative ecosystem for the CCUS industry [1][2]. Group 2: Industry Significance - CCUS technology has a significant potential for large-scale emissions reduction, contributing approximately 15.0% to carbon neutrality goals, making it a crucial method for achieving net-zero emissions [1]. - The organization is expected to facilitate international collaboration in technological innovation and create a cooperative platform for large-scale applications, contributing to global CCUS technological advancement and green low-carbon transformation [2]. Group 3: Leadership and Commitment - Sinopec's chairman expressed the company's commitment to being a pioneer in the organization’s operations and a contributor to the industry ecosystem, aiming to support high-level and efficient functioning of the organization [1]. - The chairman of the organization emphasized the importance of serving as a facilitator and coordinator, ensuring effective operation, clear objectives, and fruitful outcomes to accelerate global carbon neutrality through CCUS [2].

Core Viewpoint - Zhang Chuanjiang has been focusing on energy integration, increasing reserves and production, cost reduction and efficiency improvement, and green transformation during his first month as Chairman of CNOOC [1][2][4] Group 1: Key Activities and Focus Areas - Zhang has participated in multiple meetings and research activities, emphasizing the integration of oil and gas with various new energy projects [1][2] - On June 18, during a work survey at CNOOC, he highlighted the need for the integration of oil and gas with new energy and the development of marine energy [1] - On June 19, he stressed the importance of high-quality development in overseas operations and optimizing asset layout [2] - He visited Tianjin from June 25 to 26, focusing on enhancing energy security through key areas such as increasing reserves and production, cost reduction, and technological innovation [2] - On June 27, he called for increased forward-looking research to gain a competitive advantage in future industries [2] Group 2: Strategic Initiatives - Zhang aims to establish a "wind-solar-storage-hydrogen" green energy production base, leveraging offshore oil field electricity needs to develop surrounding offshore wind and solar projects [4] - He emphasized the importance of carbon capture and storage (CCUS) technologies and the integration of various energy projects to promote sustainable energy development [4] - On July 2, he acknowledged the achievements of the research institute in supporting CNOOC's high-quality development through technological advancements [4] - He has called for a focus on exploration and production, particularly in large and medium-sized oil and gas fields, to enhance reserve management capabilities [6] - Zhang has also highlighted the need for a world-class natural gas trading company, balancing profit and sales while expanding market presence [9]

Group 1 - China National Offshore Oil Corporation (CNOOC) is organizing a media research event from June 11 to 13 [1] - CNOOC's Bohai Oilfield will establish the largest CCUS center in northern China, integrating carbon dioxide production, injection, and storage [1] - The Bohai Oilfield, established in 1965, has approximately 60 oil and gas fields in production and over 200 production facilities, making it the largest offshore oil and gas production base in China [1] Group 2 - CCUS stands for Carbon Capture, Utilization, and Storage [1] - The first offshore CCUS project in China was officially put into operation on May 22 at CNOOC's Enping 15-1 platform in the Pearl River Mouth Basin [1]

Core Insights - China's first offshore CCUS project has been officially put into operation at the Enping 15-1 platform in the Pearl River Mouth Basin, marking a significant advancement in carbon capture, utilization, and storage technology in the country [1][2] - The project aims to inject carbon dioxide at an initial rate of 8 tons per hour into underground reservoirs, which will not only enhance oil production but also achieve carbon dioxide storage [1] - Over the next decade, the project is expected to scale up to inject over 1 million tons of carbon dioxide and drive an increase in oil production by 200,000 tons [1] Company Developments - China National Offshore Oil Corporation (CNOOC) has initiated the Enping 15-1 oil field CCUS project at the end of 2023, with the first offshore CCUS well officially starting drilling in March 2023 [2] - CNOOC has established itself as a leader in offshore CCS and CCUS demonstration projects in China, having developed over 10 pioneering technologies in the field [2] - As of June 2023, the Enping 15-1 oil field CCUS demonstration project has cumulatively injected nearly 200,000 tons of carbon dioxide [2] Industry Context - CCUS technology is becoming an essential method for low-carbon and efficient development of fossil energy, with a growing global focus on this area [2] - Currently, there are 65 commercial CCUS projects worldwide, predominantly onshore, indicating a significant opportunity for offshore projects [2] - The geological conditions in China's offshore sedimentary basins are favorable for carbon dioxide storage, with a potential storage capacity estimated at 25.8 billion tons according to the Ministry of Natural Resources [2]