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Daqing Oilfield

Daqing Oilfield

Daqing Oilfield is a prominent subordinate of China National Petroleum Corporation (CNPC), covering businesses of oil and gas exploration and development, engineering services, facility manufacturing, chemical engineering, operation sustenance, field services, and other diversified businesses. 52 sub-companies are under the administration of Daqing Oilfield.  The gross assets of Daqing Oilfield total 207.2 billion RMB, the original fixed assets total 264.4billion RMB and the net value is 119.6billion RMB.
  
Daqing Oilfield is the largest in China, and also one of the rare giant sandstone oilfields in the world. Composed by 52 oil or gas fields including Saertu, Xingshugang, Lamadian and Chaoyanggou, Daqing Oilfield covers an extensive oil-bearing area of more than 6000km2. Exploration activities have been conducted in 15 basins distributed throughout Heilongjiang province, Hailer in Inner Mongolia, and Yanji and Huichun in Jilin province. The registered prospecting license of Daqing permits an area of 160,000 km2.
  
Daqing oilfield was discovered in 1959 and development activities began in 1960. After 49 years of development, cumulative production has exceeded 2 billion tons with 1.6 trillion RMB contributed to the nation.
  
The approaches and techniques innovated by Daqing are leading the world petroleum industry in development of giant continental sandstone oilfields of severe heterogeneity. The recovery rate of major oilfields in Daqing exceeds 50%. Daqing has gained a conspicuous reputation in China for maintaining 27 years of stable production with an annual yield of 50 million tons, and also for creating three other domestic records as the biggest commercial oil producer, highest tax payer and for maintaining the largest recovery factor in China.
  
The drilling competence of Daqing also deserves high praise both in China and foreign counties. For each year, Daqing is able to drill 6,000 wells, complete 10,000 km of 2D seismic acquisition, processing and interpretation, 5,000 km2 of 3D seismic acquisition, processing and interpretation, perform production logs to 19,000 wells, drilling logs to 1000 wells, and cementing to 7,500 wells. Daqing has the capability of undertaking an aggregated project independently, and for three years, has been listed among Engineering News-Record’s most capable 60 contractors in China.
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