Xinhua News Agency, Jinan, January 4 (Reporter Wang Yang) The reporter recently learned from Shengli Oilfield that Shengli Oilfield produced 23.5916 million tons of crude oil in 2024, an increase of 140,000 tons year-on-year, of which the shale oil output exceeded 500,000 tons for the first time. At the same time, Shengli Oilfield showed a development trend of "two increases and two declines" in 2024, with crude oil production and profit targets both increasing, and investment scale and break-even points achieving double declines.
Since 2024, Shengli Oilfield has focused on maximizing the entire life cycle value of reservoir operations, deepened geological understanding in the field of oil and gas exploration, deeply analyzed the potential of conventional and unconventional reservoirs, eastern exploration areas and western exploration areas, and guided funds to invest in new zones, new strata systems, new types and other areas with strategic breakthroughs and scale storage increase, and added new three-level reserves, controlling and predicting "three 100 million tons", which further reduced the cost of reserve discovery.
In the field of oil and gas development, Shengli Oilfield coordinates scale, quality and efficiency, and prioritizes funds towards stable production and long-term efficiency, shale oil development, etc., focusing on plan design optimization, advanced well reserves and capacity structure optimization, optimizes incremental and stocks, and strives to increase production capacity, controls decreasing, increases recovery, and reduces costs. The quantity and quality of production capacity construction have increased, and the investment in one million tons of production capacity continues to decline.
