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28 February 2019, Volume 38 Issue 1 Previous Issue    Next Issue

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Policy Dilemma of Unconventional Natural Gas Resources Development and Suggestions on Countermeasures Pan Jiping 2019, 38(1): 1-7.  DOI: 10.3969/j.issn.1002-302x.2019.01.001 Abstract ( )   PDF (1543KB) ( )   China’s unconventional natural gas exploration and development has experienced a rapid development in recent years. Remarkable achievements were made in CBM exploration, with the output growing steadily. Important breakthroughs were also made in shale gas exploration, with the output rising rapidly. China’s unconventional natural gas, such as shale gas and CBM, has the basis and potential of resources for sustainable and rapid development. However, the prospect for development is full of uncertainties. The policy dilemma and existing problems have become the bottlenecks affecting development of unconventional resources. These bottlenecks are concentrated in five areas -- distribution of royalties, overlapping of royalties, policies on resources management, follow-up and coordinating policies, and policy support mechanism and method. To enhance development of unconventional resources and increase the reserves and production, in addition to continual efforts for research on key technology and engineering equipment, it is of urgency to accelerate construction of a systematic, integrated, long-term, stable and coordinating system of policies for development of unconventional natural gas resources. It is proposed that the concrete countermeasures should be far-sighted and have a clear-cut strategic position. The competitive transfer of royalty should be further deregulated to promote movement and transfer of royalty and stimulate investment. The management mechanism of oil and gas royalty should be innovated in the efforts to find out a royalty management pattern that is in line with the characteristics of unconventional resources, thus promoting integrated prospecting and production of energy resources. It is necessary to perfect the policy support mechanism and substantially promote development on the basis of standardizing resources development. The profit-sharing mechanism for unconventional resources development should be reformed and perfected to bring the initiative of energy involvement into full play. With the greater efforts for supervision, the central and local government should formulate a new joint supervision system mechanism to highlight specialization level of supervision.

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Review of China’s Energy Industry in 2018 and Outlook of 2019 Xu Ping, Yang Jing 2019, 38(1): 8-19.  DOI: 10.3969/j.issn.1002-302x.2019.01.002 Abstract ( )   PDF (2673KB) ( )   The growth rate of primary energy consumption rebounded to 3.8 percent in 2018 while consumption of various energy commodities was also on the rise. Generally speaking, the growth rate of energy consumption was characterized as “coal rebounding, petroleum rising steadily and clean energy growing rapidly”. Energy intensity was continually reduced, but the declining rate became slower. The quality of energy supply was continually improved while the risks for energy security were brought under control. Progress was made in adjustment of coal productivity, with the quality of renewable energy industry improved. It is estimated that the growth rate for primary energy demand will decline to 3.1 percent in 2019 owing to the influence of the situation both at home and abroad. The macro economy faces a great downward pressure. The growth rate for consumption of various energy commodities will slow down as compared to 2018. The initial results have been achieved in optimization of consumption structure. The proportion of clean energy is continually on the rise, such as natural gas and nonfossil energy. The objectives for the proportions of coal and non-fossil energy, as planned in the 13th Five-year Plan, will be fulfilled ahead of time. The internal structure of various energy industries is continually under adjustment. With resumption of oil and gas exploration, the coal industry is continually under crucial adjustment while non-fossil energy development comes under upgradation. The energy industry is developing steadily towards “cleanness, greenness and high quality”.

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Reflections and Questions on Strategic Management of Enterprises Lu Ruquan 2019, 38(1): 20-24.  DOI: 10.3969/j.issn.1002-302x.2019.01.003 Abstract ( )   PDF (1401KB) ( )   Reflections on strategic research and strategic management are summarized on the basis of actual work. For example, a strategy is different from a plan, a prospective or an objective. It focuses on discovery of problems, design of reasonable schemes and settlement of key issues. The nature is what can be done and what cannot be done. Selection of strategic opportunity and breakthrough point is of vital importance. It is necessary to do the right thing at the right time. The real strategy has a focus that is the soul of the strategy. Formulation of a strategy calls for development of a correct mindset, acquisition of effective analytical methods and tools, courage of self-denial, and overcome of group psychology. It is necessary to know the difference between a good strategy and a bad one as well as the key points for formulation of a good strategy. This paper also raises six questions about management of strategy, such as relations between strategy and strategic management, difference between strategy and various plans, correlations between strategic management and other management sciences, demand and current conditions of strategic management, and how to prepare for the more and more uncertain times.

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Practice and Experience in Implementation of Full Project System Management on Technological Projects Zhao Ming 2019, 38(1): 25-28.  DOI: 10.3969/j.issn.1002-302x.2019.01.004 Abstract ( )   PDF (1400KB) ( )   According to the instructions of CNPC on trial implementation of full project system management on technological projects, PetroChina Research Institute of Petroleum Exploration & Development and CNPC Drilling Research Institute selected three research projects for trial implementation in 2015. In the process of pilot implementation, the headquarters strengthened the efforts for organizational coordination to push ahead with the relevant work while the pilot institutes stepped up organizational management, including compilation, optimization and implementation of the plans, adjustment and perfection of the system, and improvement and simplification of the work process. The project team were responsible for independent operation and established the self-management system. The pilot projects were organizationally put in place and effectively executed on the basis of the concrete plans. The project team dramatically enhanced their sense of responsibility and enthusiasm, improved their work efficiency, and promoted the team work and team awareness. To fully trigger the initiatives for technological innovation, it is necessary to development the policy mechanism in perfection of the full project system. Breakthroughs should be made in the system of incentive policies.

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Practice and Suggestions on Oil and Gas Field Enterprises’ Management of National Science and Technology Major Projects Zhao Ronghuai, Zhu Haiming, Qin Lin, Wang Feng, Zhang Liping 2019, 38(1): 29-33.  DOI: 10.3969/j.issn.1002-302x.2019.01.005 Abstract ( )   PDF (1359KB) ( )   The national science and technology major project is an important pattern of China’s technological development. To fulfill the objectives of the country’s important energy projects, PetroChina Tarim Oilfield Company takes the advantage of local resources in Tarim Basin and becomes the part of the main force in operation of national science and technology major projects. It was engaged in 38 research projects from the 11th Five-year Plan Period to the 13th Five-year Plan Period, making research on the world-class exploration and development bottlenecks. To promote execution of the national important technological projects, the company has stepped up management and achieved good results in this area. It has taken a series of concrete measure for this purpose. First of all, importance is attached to unified management of project determination, with the detailed managerial rules formulated and implemented. The projects in the same area are brought under unified design to highlight the key points of projects. Secondly, more efforts are focused on assessment of project feasibility. The researchers interact closely with the production units for strict examination and approval of the potential projects, making the projects more cost-effective. Thirdly, the specifications are made in fund, budget, staff members and execution with the special person appointed to manage fund usage. The oilfield company makes periodical examinations for the purpose to improve efficiency of fund. Fourthly, the kick-off meeting are held in time to urge the relative parties to complete the tasks through coordination of business management, thus pushing ahead with the project in common efforts. This paper also comes up with some suggestions on the unclear aspects of project management, such as offering some applicable management procedures on how to make detailed execution rules for budget allocation, adjustments without involvement of fund, and incentives for researchers.

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Research on Commercialization of Characteristic Perforation Technology Li Yanxi, Zhang Li, Nie Jingwen, Jing Daijiao 2019, 38(1): 34-37.  DOI: 10.3969/j.issn.1002-302x.2019.01.006 Abstract ( )   PDF (1761KB) ( )   Conversion of technological achievements is helpful to maximization of intellectual property value and improvement of technological production power and industrial competitiveness. To accelerate conversion of technological achievements, CNPC Logging Southwest Branch has made active efforts for research on commercialization pattern of characteristic perforation technology. In commercialization of XF multi-fire perforation, the concrete technological units and components were determined by means of a variety of promotion carriers for technological tangibleness. The value of technology was evaluated to provide the scientific and reasonable pricing basis for extensive commercialization. Based on technological analysis and market analysis, the policies for market promotions were formulated in details. In accordance with market demands, the efforts were made for optimizing and perfecting the technology and offering the services of technological support and after-sale response, achieving technological advancement. In 2018, the quantities in application and service of XF multifire perforation technology grew 50 percent as compared to the previous year. The sales of the relative perforation charge and perforation equipment also rose 68.83 percent and 345.9 percent respectively, achieving desirable market results.

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Twenty Items of New Technology for Oil and Gas Exploration and Development in Next Decade Yang Jinhua, Li Xiaoguang, Sun Naida, Zhang Huanzhi, Qiu Maoxin, Jiao Jiao, Hou Liang, Zhang Jiaming, Guo Xiaoxia, Liu Zhixin 2019, 38(1): 38-48.  DOI: 10.3969/j.issn.1002-302x.2019.01.007 Abstract ( )   PDF (8464KB) ( )   A series of new technology, new equipment and new materials will be developed and applied to increase reserves and production and reduce oil and gas production cost for cost-effectiveness in the future, with oil and gas exploration and development becoming intellectualized. This paper follows up and analyzes the latest developments of global petroleum technology and selects 20 items of new technology for oil and gas exploration and development in the next decade, which have a great potential for development. They can be used for reference for the industrial insiders. These 20 items of technology include smart geology, integrated intelligent platform of exploration and development, intelligent oilfield, nano intelligent oil flooding technology, downhole oil-water separation technology, underground in-situ upgrading technology, high-precision intelligent fracturing, intelligent subsea factory, FLNG unit, safe and efficient cost-effective development technology for offshore gas hydrates, compression-sensing seismic exploration technology, AI seismic interpretation technology, elastic wave imaging technology, look ahead and deep directional resistivity logging while drilling, fiber optic logging technology, one-trip logging, downhole instruments and tools for ultra-high temperature, intelligent drilling, continuous motion intelligent drilling rig, and reverse circulation drilling with pipe in pipe.

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Strategic Options Made by World-leading Oil Companies Against Recovery Situation Yu Ling, Xiong Liang, Lin Xiaohong, Huang Yingjia 2019, 38(1): 49-55.  DOI: 10.3969/j.issn.1002-302x.2019.01.008 Abstract ( )   PDF (1812KB) ( )   Oil and gas production grew with the rise of international oil prices in 2018, while remarkable achievements were made in cost-effectiveness. Business revenues and net profits of world-leading oil companies climbed significantly, bringing about business growth for the first time since low oil prices starting from 2014. The strategies of the world oil leaders are characterized as “five devotions and one transformation” -- highlighting the key position of oil and gas business and increasing upstream investment again to secure their long-term advantages in industrial competition, pursing continual optimization of assets to focus on the cost-effective and high-profit projects, committing themselves to natural gas business in the efforts to accelerate expansion of LNG scale, making oil refining business superior and targeting at the regions with advantages in resources and rapid demand growth, such as the three main regions of North America, the Middle East and Asia-Pacific, optimizing distribution of marketing business to enlarge the emerging market shares as well as accelerating transformation into integrated energy companies at the same time. It is proposed that the Chinese oil companies should attach importance to oil and gas exploration, adopt a series of measures to improve replacement of reserves, open the whole industrial chain to the outside world for cooperation, improve the profit making capacity of oil refining business from a strategic viewpoint, expand marketing business on the basis of focusing on the network of terminals and the variety of products, and innovate commercial patterns by means of their advantages to accelerate green development and new energy business.

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Reflections on Exploration Block Merger and Acquisition by International Oil Companies Zhang Ningning, Wang Qing, Wang Jianjun, Li Haowu, Liu Mingming 2019, 38(1): 56-62.  DOI: 10.3969/j.issn.1002-302x.2019.01.009 Abstract ( )   PDF (2027KB) ( )   International oil companies are the main players in the merger and acquisition activities of the upstream exploration assets. This article analyzes the mergers and acquisitions made by seven international oil majors -- ExxonMobil, Shell, Total, BP, Equinor, ENI and Chevron -- in the area of upstream exploration assets between 2017 and 2018. It also summarizes the characteristics of the mergers and acquisitions cases exploration assets, such as access conditions, operatorship, important exploration fields and trading opportunities. International oil companies have extensively attached great importance to mergers and acquisitions of exploration assets, setting a record high in transactions number. They actively compete for operatorship of main exploration blocks and reasonably control the proportion of interests. Deepwater oil and gas exploration has become an important exploration area. Global frontier risk exploration becomes a focus of attention from the petroleum community. It is proposed that the domestic oil companies should make greater efforts for the research on mergers and acquisitions of exploration blocks, strengthen risk assessments, pay active attention to deepwater exploration assets, step up international cooperation, focus on periodic analysis of oil and gas industry, continually optimize the assets portfolio, and take advantage of the favorable window to bring about rapid business development.

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Analysis and Reflections of Reasons Why International Geophysical Giants Withdraw from Acquisition Business Shi Zile, Huang Yanlin, Feng Yongjiang, Zheng Xu, Huang Haocan 2019, 38(1): 63-70.  DOI: 10.3969/j.issn.1002-302x.2019.01.010 Abstract ( )   PDF (3119KB) ( )   Traditional international geophysical giants announced their withdrawal from seismic data acquisition business in 2018. The main reason is that seismic data acquisition has become a labor-concentrated industry of high investment, high risks and low returns. Oil companies reduced their investment for seismic data acquisition for the purpose of cost-effective development. The significant amount of fund the geophysical service companies invested for technology could not be recovered in the form of capital, causing long-term and series losses in acquisition business. Being unable to keep raising fund, they lost their confidence in this business block. The rise of the Chinese companies has intensified market competition. As reflection of the company’s competitiveness and development potential, seismic data acquisition technology and equipment are developing in the trends for higher data grade, lower exploration risks and shorter exploration periods. Low cost, high precision and intelligence are the new directions of geophysical industrial innovation. Close integration of acquisition service companies with equipment manufacturers will bring about a new situation of industrial development. Therefore, China’s geophysical service companies should formulate the development strategies in line with industrial development and their own characteristics in order to bring the Chinese companies’ core competitiveness into play, focus on the development direction for technology and take advantage of the development opportunity.