According to China Petroleum Daily, on September 6, China Petroleum Engineering and Technology Branch issued the Notice on Fully Developing Winter Drilling and Fracturing Construction. It plans to launch continuous construction in winter in PetroChina this year, alleviate the contradiction between equipment and resources, and ensure the increase of oil reserves and production. The notice pointed out:
1) expand the scope of the construction area. Xinjiang oilfield, Changqing Oilfield and Qinghai oil field all have winter construction tasks.
2) outburst the construction of deep wells, and carry out the construction of 3000 meters or more internal drilling rigs.
3) emphasize the cooperative operation of fracturing operations. All drilling enterprises are required to carry out fracturing operation combined with regional temperature conditions to ensure balanced production.
Under the background of national energy security, winter construction has been valued, and more production measures are expected to be introduced in the future.
1) Driven by the national energy security strategy, it is urgent to intensify domestic oil and gas exploration. PetroChina should also take effective measures to increase oil and gas production and ensure the safety of oil and gas supply.
2) ease the shortage of equipment resources. Owing to the rapid growth of deep and horizontal wells in exploration and development this year, the supply of high-end drilling rig and fracturing truck is insufficient. Winter construction can improve the utilization rate of high-end drilling rigs, while promoting deep well construction, the utilization rate of CNPC drilling rigs is expected to increase by 5%, and the utilization rate is expected to exceed 80%.
3) give full play to the advantages of oil and oil and B / b integration so as to solve the problem of uneven production.
"Three barrels of oil" increased capital expenditure, PetroChina said it promoted extra domestic oil and gas production by supernormal measures.
1) According to China Petroleum Daily, the total upstream investment of "three barrels of oil" in China is expected to increase by 20% year-on-year this year, and the workload of oil clothing has increased substantially. In the first eight months of the year, the market quota of China Petroleum Clothing has increased by 47% year-on-year.
2) On August 6, according to PetroChina's report, the PetroChina Party Group held an enlarged meeting, which clearly indicated that the special research and deployment should enhance domestic oil and gas exploration and development efforts, and strive to ensure national energy security. Wang Yilin, chairman of the board of directors, said that exploration and development should always be the top priority of the company and the position of ballast to promote domestic oil and gas reserves and production by unconventional measures.
3) PetroChina reported that on September 7, leaders of SASASAC of the State Council attended an important meeting of the board of directors of PetroChina. Industry insiders said the move reflects the state's requirement that PetroChina strictly implement the "Several Opinions on Promoting the Coordination and Stable Development of Natural Gas" and the on-site "supervision" of PetroChina to increase exploration and development attitude.
The State Council's "Several Opinions on Promoting the Coordination and Stable Development of Natural Gas" calls for the intensification of domestic natural gas exploration and development. China has a great potential for shale gas exploitation and promotes the release of related equipment and services.
1) On September 5, the State Council issued "Several Opinions on Promoting the Coordination and Stable Development of Natural Gas", clearly pointing out that the domestic exploration and development efforts should be strengthened and "striving to achieve domestic natural gas production of more than 200 billion cubic meters by the end of 2020".
2) shale gas reserves in China are the world's first and have great potential for exploitation. In 2017, China's shale gas production reached 9 billion cubic meters. According to the National Shale Gas Development Plan (2016-2020), the production of shale gas will reach 30 billion cubic meters by 2020 and 80 to 100 billion cubic meters by 2030.
3) shale gas development started late in China, and has climbed to third countries after the United States and Canada.
Recommend Jerry shares, offshore oil engineering, petrochemical machinery and so on.
1) Against the background of increasing attention to national energy security, two main investment lines are recommended: shale gas and offshore oil and gas exploitation.
2) select high-quality leading products with global competitiveness. (1) the layout of the industrial chain is perfect; (2) overseas business development is fruitful; (3) orders or workload is growing.
3) Promote Jerry's shares (leading fracturing equipment, fast order growth, high performance elasticity), offshore oil engineering (CNOOC core subsidiary, is expected to benefit from offshore oil development, PB1.2 times), petrochemical machinery (fracturing equipment, pipeline, natural gas compressor business, the layout of the whole industry chain);
4) Be optimistic about CNOOC clothing (benefiting CNOOC), CNOOC engineering (benefiting CNOOC), Andong oilfield service (H shares, elasticity), Tongyuan Oil, HP, Changbao Stock, Jiuli Special Materials, etc.
Risk Tips: Risk of Oil Price Fluctuation, Risk of National Policy Change of Crude Oil, Risk of Overseas Sales Revenue Fluctuation