Shaanxi Yanchang Petroleum exceeds 18 million tonnes of oil and gas equivalent

From Shaanxi Yanchang Petroleum Group Co., Ltd. was informed that in 2023, Yanchang Petroleum's crude oil production reached 11.624 million tonnes, with a net increase of 142,000 tonnes year-on-year, and maintained a steady production of more than 10 million tonnes per year for 17 consecutive years. Natural gas production exceeded 8 billion cubic metres, a net increase of 438 million cubic metres year-on-year, achieving 15 years of consecutive increases in production. Oil and gas equivalent reached 18.016 million tonnes, ranking steadily in the first echelon of oil and gas fields in China.

Shaanxi Yanchang Petroleum Group gas field drilling site (Photo by Yanchang Petroleum) Since 2023, Yanchang Petroleum has continued to promote the comprehensive three-dimensional exploration of oil and gas resources, with new proven geological reserves of 66.6 million tonnes of oil and 21.8 billion cubic metres of natural gas throughout the year. Focusing on new wells to build production, and integrating aboveground and underground integration to promote, in 2023, the new crude oil production capacity of 1.05 million tonnes, the new natural gas production capacity of 1.89 billion cubic metres, the total natural gas production capacity reached 10 billion cubic metres per year. Continuously optimising the tight oil and gas technology system, exploring key technologies for efficient exploration and development of unconventional oil and gas resources such as shale oil and gas, deep coal bed methane, etc., and striving to realise the goal of "fewer wells, more oil, and more gas production".

In recent years, Yanchang Petroleum has also actively promoted the coupling and synergy of manufacturing and extractive industries, and the integration of oil and gas exploration and development with new energy sources. Group carbon dioxide capture, use and storage (CCUS) demonstration project Ansai 260,000 tonnes/year CO2 oil drive and storage project completed betting on CO2 injection scale to 410,000 tonnes per year; national "energy Internet" demonstration project to extend the oil and gas fields, "Zero Carbon Engineering "1 GW wind and light micro-energy network project is steadily implemented, Ansai Wangjie 6 MW distributed photovoltaic project is speeding up the promotion of "low-carbon" "zero carbon" oil and gas field construction is taking shape.