PR91183

DEYANG, China, Aug. 17, 2021 /PRNewswire=KYODO JBN/ --

China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") has proved

another 34.029 billion cubic meters of natural gas at the Zhongjiang Gas Field,

bringing the total known natural gas reserves in the Sichuan Basin to 106.1

billion cubic meters further promoting Sinopec's clean energy supply capacity

while supporting the Sichuan and Chongqing region to establish China's first

100-billion-cubic-meter natural gas production base.

The Zhongjiang Gas Field, located in Zhongjiang County of Deyang City, main gas

reservoir has a depth of 2,000-3,000 meters and covers an area of 404.9 square

kilometers. The gas field is a typical compact sandstone gas reservoir

characterized by low porosity, low permeability and strong concealment.

Developed through technological R&D, Sinopec's integrated evaluation and key

supporting technologies strongly buttress the high-quality exploration of

Zhongjiang Gas Field, which now has a cumulative gas production of 5.29 billion

cubic meters with annual production exceeding 1 billion cubic meters for two

consecutive years, equivalent to meeting the daily gas consumption of 5.5

million households every year.

The Sichuan Basin is rich in ultra-deep natural gas and deep shale gas

resources and is a main front for increasing natural gas reserves and

production in the future. In recent years, Sinopec Southwest Oil & Gas Company

has successively solved three major problems in oil and gas exploration and

development, including narrow-channel tight gas fields, ultra-deep and

high-sulfur gas fields and deep shale gas fields. It has made China one of the

few countries in the world to own the complete exploration and development

technologies of ultra-deep, high-sulfur organic reef gas fields, taking the

lead in ultra-deep natural gas and deep shale gas exploration and development,

providing a successful experience for China and abroad.

About Sinopec

Sinopec Corp. is one of the largest integrated energy and chemical companies in

China. Its principal operations include the exploration and production,

pipeline transportation and sale of petroleum and natural gas; the sale,

storage and transportation of petroleum products, petrochemical products, coal

chemical products, synthetic fiber, fertilizer and other chemical products; the

import and export, including an import and export agency business, of

petroleum, natural gas, petroleum products, petrochemical and chemical

products, and other commodities and technologies; and research, development and

application of technologies and information.

Sinopec sets 'fueling beautiful life' as its corporate mission, puts 'people,

responsibility, integrity, precision, innovation and win-win' as its corporate

core values, pursues strategies of value-orientation, innovation-driven

development, integrated resource allocation, open cooperation, and green and

low-carbon growth, and strives to achieve its corporate vision of building a

world leading energy and chemical company.

SOURCE  SINOPEC

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   Link: http://asianetnews.net/view-attachment?attach-id=398615

   Caption: Sinopec Proves China's First 100-Billion-Cubic-Meter Natural Gas Reserve in

Sichuan Basin.