Relying on the advantages of integration of ZPEC drilling and completion engineering services and petroleum equipment manufacturing, since 2016, Zhongman Group has focused on many oil and gas exploration and production projects in the oil and gas enrichment areas along "One Belt One Road", and actively deployed the exploration and production business, which has made a series of gratifying breakthroughs. ZPEC has completed the bidding, awarding, exploration, discovery, trial mining and etc. activities of Xinjiang Wensu Project, becoming the first domestic private enterprise to obtain the License of Oil & Gas Mineral Exploration Rights, License of Oil & Gas Mining Rights,and Report on Incremental Proven Reserves of Conventional Oil and Natural Gas Review and Filing. In addition, ZPEC has also acquired Kazakhstan's Tenge and Coastal Oilfields. According to the preliminary estimates, the oil and gas resources are nearly 300 million tons, and the oil geological reserves approved by the government are about 120 million tons.
By 2020, Zhongman Group has incremental proven oil-bearing area of 8.39 square kilometers, proven oil geological reserve of 30.11 million tons; incremental proven dissolved gas geological reserve of 304 million cubic meters, and gas reservoir gas-bearing area of 2.23 square kilometers. The natural gas geological reserves of Wen 7 Block of Wenbei Oilfield, Wensu Project, Xinjiang Province are 449 million cubic meters.
Relying on the national policy advantages, the strategic focus is on the "Belt and Road" oil and gas enriched regions with rich oil and gas resources and strong newly discovered reserves, such as Xinjiang, Central Asia, the Middle East, Russia and other regions.
Preferential exploration and development zone block based on large oil and gas area, large basin and oil and gas enrichment zone.
Focus on conventional oil and gas resources, adhere to the basic idea of combining short-term projects with medium-term and long-term projects, and focusing on natural gas business development in the medium-term and long-term term.
Focus on the oil and gas fields to be developed the secondary development of old oil fields, improve the recovery rate, and appropriately carry out high-quality block exploration business.
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