Increasing
demand for tertiary oil recovery technology and equipment
in the PRC
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The PRC is one of the largest oil producing countries
in the world, but is a net importer of oil because
of continued growth in consumption as a result of
strong economic growth
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Prolonged use of water injection as a means of
secondary oil recovery technique has caused a slowdown
in extraction efficiency in some of the major PRC
oilfields
Favourable development trend for tertiary oil recovery
technology
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Daqing Oilfield Co., Ltd. plans to extend the
use of tertiary oil recovery technique in more than
80% of its oil extraction sites in Daqing oilfield
in the next 15 to 20 years(1)
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In 2007, tertiary oil recovery in Daqing
oilfield had reached an output of around 11.5 million
tonnes, accounting for approximately 28% of the total crude oil output in Daqing
oilfield(2)
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Other PRC oilfields, such as Shengli, Changqing
and Xinjiang, have gradually expanded the scale
of their tertiary oil recovery processes as their
oilfields approach maturity·
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Leveraging on
Daqing oilfield’s established record in tertiary
oil recovery, we believe we can further enhance
our credibility and reputation in the industry to
attract potential domestic and overseas customers
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