Announcement • Jun 30
China Petroleum & Chemical Corporation to Report First Half, 2026 Results on Aug 24, 2026 China Petroleum & Chemical Corporation announced that they will report first half, 2026 results on Aug 24, 2026 Announcement • Jun 16
China Petroleum & Chemical Corporation (SEHK:386) announces an Equity Buyback for CNY 1,000 million worth of its shares. China Petroleum & Chemical Corporation (SEHK:386) announces a share repurchase program. Under the program, the company will repurchase up to CNY 1,000 million worth of its class A stock. The shares will be repurchased at a price of CNY 7.55 per share. The purpose of the program is to reduce registered share capital of the company. The repurchased shares will be cancelled. The plan will be valid for 3 months. Announcement • May 14
China Petroleum & Chemical Corporation Reports Proven Reserve of 235.687 Billion Cubic Meters At Ziyang Dongfeng Shale Gas Field China Petroleum & Chemical Corporation has announced a major shale gas exploration breakthrough of its Project Deep Earth - Sichuan and Chongqing Natural Gas Base. The Ziyang Dongfeng shale gas field, operated by Sinopec, has secured official approval for proven geological reserves of 235.687 billion cubic meters from the Ministry of Natural Resources of China. This marks the birth of China's first ultra-deep, 100-billion-cubic-meter-level shale gas field, pushing exploration and development beyond 4,500 meters. The Ziyang Dongfeng in the Sichuan Basin is a large, integrated shale gas field discovered in the Cambrian Qiongzhusi Formation, the earth's oldest commercial shale layer, formed 540 million years ago. Buried 4,500–5,200 meters deep, it posed globally recognized exploration challenges such as unclear reservoir characteristics, complex accumulation mechanisms, thick difficult-to-drill formations, and extreme heat and pressure. The Sinopec team moved beyond conventional exploration models. By integrating AI into geophysical imaging, they effectively CT-scanned subsurface formations, enabling clear reservoir identification and gas detection. Combined with breakthroughs in ultra-deep drilling and fracturing, these efforts have yielded a fully proprietary technology system for Cambrian ultra-deep shale gas exploration. Sinopec continues to drive the high-quality development of China's shale gas industry. In 2012, Sinopec discovered the Fuling shale gas field, launching China's commercial shale gas development and making China the third country (after the U.S. and Canada) to achieve commercial-scale shale gas production. By 2017, Sinopec had built Fuling into China's first 10-billion-cubic-meter-capacity shale gas field. Pushing into deeper formations, Sinopec proved the Weirong shale gas field (2018), the Qijiang shale gas field (2022), and, in 2025, the Yongchuan and Hongxing fields, each with reserves exceeding 100 billion cubic meters. Announcement • May 08
China Petroleum & Chemical Corporation Unveils Fenghuo Industrial AI Agent China Petroleum & Chemical Corporation has unveiled the "Fenghuo" industrial AI agent, the first digital expert in the petrochemical sector capable of actively participating in production operations. The "Fenghuo" AI agent can analyze production data, interact with industrial software, and generate scientific research and engineering outcomes, essentially functioning as a "digital colleague" for petrochemical employees. The innovation marks the first time that AI achieving independent operational capability in the petrochemical sector, a key milestone in Sinopec's efforts to advance AI from a general-purpose tool to a core driver of industrial productivity--infusing new technological momentum into the high-quality development of the entire industry chain. Built on Sinopec's "Great Wall" large model, the "Fenghuo" intelligent agent achieves three major breakthroughs: Deep domain knowledge accumulation: integrating over one billion expert insights and experiences, the equivalent of carrying an entire petrochemical library with every task while being capable of continuous learning and autonomous iteration. Precise utilization of specialized toolchains and enterprise data: operates industrial simulation, process modeling, and other systems to complete engineering calculations. Stable execution of complex tasks over extended periods: to autonomously break down multi-step industrial processes and maintain reliable performance during continuous operations that last several hours. The first deployment of "Fenghuo" AI agent spans four roles: Fenghuo Scientist, Fenghuo Engineer, Fenghuo Programmer, and Fenghuo Assistant. The Scientist and Engineer serve as core productivity roles, autonomously analyzing tasks and leveraging industrial software to conduct specialized work, such as dynamic oilfield development analysis and refining process optimization. Meanwhile, the Fenghuo Assistant helps employees with data organization, report writing, and other routine tasks, improving daily office efficiency. Announcement • Apr 20
China Petroleum & Chemical Corporation, Annual General Meeting, May 13, 2026 China Petroleum & Chemical Corporation, Annual General Meeting, May 13, 2026, at 09:00 China Standard Time. Location: No. 2, Chaoyangmen North Avenue, Dongcheng District, Beijing China Announcement • Mar 30
China Petroleum & Chemical Corporation to Report Q1, 2026 Results on Apr 29, 2026 China Petroleum & Chemical Corporation announced that they will report Q1, 2026 results on Apr 29, 2026 Announcement • Mar 19
China Petroleum & Chemical Corporation Elects Wang Shijie as Employee Representative Director, Effective March 19, 2026 In accordance with the relevant provisions of the Company Law of the People's Republic of China and the Articles of Association of China Petroleum & Chemical Corporation, and upon completion of the democratic procedures, Mr. Wang Shijie was elected as an employee representative director (the "Employee Representative Director") of the ninth session of the board of directors of the Company. His term of office shall commence from 19 March 2026 to the date when the term of the ninth session of the Board of the Company expires. Wang Shijie, aged 54. Mr. Wang is a professor level senior engineer with a master's degree. In October 2018, he was appointed as General Manager and Deputy Secretary of CPC Committee of Sinopec Group Northwest Petroleum Bureau Co. Ltd., and General Manager of Northwest Oilfield Branch of Sinopec Corp.; in December 2023, he was elected as Executive Director and Secretary of CPC Committee of Sinopec Group Northwest Petroleum Bureau Co. Ltd., and Representative of Northwest Oilfield Branch of Sinopec Corp. Announcement • Feb 27
China Petroleum & Chemical Corporation Announces Resignation of Guo Xusheng as A Chief Geologist of Sinopec Corp. , Effective February 27, 2026 China Petroleum & Chemical Corporation received Mr. Guo Xusheng's resignation on 27 February 2026 as a Chief Geologist of Sinopec Corp. due to his age. Mr. Guo Xusheng has confirmed that he has no disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of shareholders of Sinopec Corp. Announcement • Feb 13
China Petroleum & Chemical Corporation Announces Resignation of Li Yonglin as Director and Board Committees, Effective February 13, 2026 China Petroleum & Chemical Corporation received Mr. Li Yonglin’s resignation on February 13, 2026. Due to change of working arrangement, Mr. Li Yonglin resigned as an executive director, a member of strategy committee of the Board and a senior vice president of Sinopec Corp. Announcement • Dec 26
China Petroleum & Chemical Corporation to Report Fiscal Year 2025 Results on Mar 23, 2026 China Petroleum & Chemical Corporation announced that they will report fiscal year 2025 results on Mar 23, 2026 Announcement • Dec 18
China Petroleum & Chemical Corporation Appoints Li Wei as an Independent Non-Executive Director China Petroleum & Chemical Corporation, at the EGM held on December 18, 2025 Mr. Li Wei as an Independent Non-executive Director of the ninth session of the Board of the Company. Announcement • Nov 16
China Petroleum & Chemical Corporation Reports Successful Results from Pilot of Its Pbst (Polybutylene Definate-Co-Terephthalate) Biodegradable Mulch Film in Wusu, Xinjiang Uygur Autonomous Region China Petroleum & Chemical Corporation reported successful results from a pilot of its PBST (polybutylene succinate-co-terephthalate) biodegradable mulch film in Wusu, Xinjiang Uygur Autonomous Region. The PBST mulch film, developed with Sinopec's fully independent intellectual property rights, delivered largely equivalent cotton yield compared with control fields using traditional polyethylene (PE) mulch film. Its degradation performance, as well as moisture- and heat-retention capabilities, met design targets. The project provides a feasible path to addressing residual film pollution while maintaining stable cotton yields, achieving both ecological and economic benefits and supporting the sustainable development of green agriculture. As one of China's major cotton-producing regions, Xinjiang has long relied on PE mulch films to conserve soil moisture and increase soil temperature, which are difficult to degrade naturally, resulting in severe accumulation of residual plastic films. Other fully biodegradable films such as PBAT have a short weather-resistance cycle and often degrade too quickly before the cotton boll forming stage, leading to insufficient moisture and heat preservation that affects normal crop growth. By contrast, PBST offers outstanding anti-UV and moisture-barrier performance compared with other biodegradable materials. Long-term experiments have shown that PBST films used across different regions for different crops can fully degrade within one to three years into harmless substances. Sinopec is accelerating the research, development, and application of PBST materials to tackle the challenge of residual mulch film in cotton fields. In March, the group commissioned the world's first 60,000-ton-per-year PBST industrial production facility at its Hainan Refining & Chemical site. In April, Sinopec's production, sales, and R&D teams launched the first large-scale PBST mulch film pilot together with local agricultural authorities in Xinjiang and Liaoning Dongsheng Group, planting over ten thousand mu of cotton fields in the key production bases of Wusu City and Kuitun City. In October, third-party assessments and yield measurements confirmed that PBST-covered fields achieved yields comparable to those using traditional PE film, with significantly faster film degradation speed. The PBST film will fully decompose into water, carbon dioxide, and minerals without the need for manual retrieval. While fulfilling Xinjiang's cotton growth requirements, it also reduces costs, mitigates soil pollution from PE film residues, and demonstrates clear economic and environmental benefits--offering a replicable and scalable solution for the sustainable development of Xinjiang's agriculture. Announcement • Sep 30
China Petroleum & Chemical Corporation to Report Q3, 2025 Results on Oct 30, 2025 China Petroleum & Chemical Corporation announced that they will report Q3, 2025 results on Oct 30, 2025 Announcement • Aug 21
China Petroleum & Chemical Corporation Approves Board Appointments China Petroleum & Chemical Corporation at its First Extraordinary General Meeting held on 21 August 2025, elected Mr. Hou Qijun and Mr. Cai Yong as non-executive director of the ninth session of the board of directors of the Company. Announcement • Jun 30
China Petroleum & Chemical Corporation to Report First Half, 2025 Results on Aug 25, 2025 China Petroleum & Chemical Corporation announced that they will report first half, 2025 results on Aug 25, 2025 Announcement • May 15
China Petroleum & Chemical Corporation Sets New Vertical Well Depth Record of 5,300 Meters China Petroleum & Chemical Corporation has announced a major shale gas exploration breakthrough of its Project Deep Earth - Sichuan and Chongqing Natural Gas Base, that its Tiebei 1HF well has been tested at a high daily output of 314,500 cubic meters of industrial gas flow. The vertical depth of the well reaches over 5,300 meters with a 1,312-meter-long horizontal section, setting a new record for vertical depth of shale gas wells in China. The breakthrough will boost the gas reserves and production efficiency in the Puguang area as well as contribute to the development of ultra-deep shale gas in the Sichuan Basin. The Puguang gas and oil field is the first extra-large deep and high-sulfur gas field in China with large-scale development and has been efficiently developed for 20 years. To achieve the goal of long-term stable shale gas production, Sinopec is constantly looking for new resources and eyed the Puguang Upper Permian, but most of the resources are distributed in the ultra-deep field with aial depth of over 4,500 meters, which is regarded as a "forbidden zone" because of the rapid changes in theocity of the strata. Sinopec tackled the bottleneck through extensive research and technological innovations to realize a 100% drilling encounter rate of high-quality shale in horizontal section with drilling precision comparable to "threading a needle in the deep underground" to eventually drill the Tiebei 1HF well successfully. Sinopec's self-developed 175 MPa ultrahigh-pressure (UHP) fracturing equipment dynamically optimizes the parameters on-site with different strategies for each section and opened up a "man-made gas road" in the high-pressure stratum at the depth of 5,300 meters, bringing back all the resources from the deepest and hest ends of the gas reservoir to maximize the development. At present, Sinopec Zhongyuan Oilfield is preparing an overall exploration and development plan for the Upper Permian shale gas in Puguang to promote the efficient transformation of resources. The exploration and development of shale gas are of strategic importance to China's energy landscape, and Sinopec actively takes the responsibility and discovered the Fuling shale gas field in 2012, which kicked off commercial development of shale gas in China, and Sinopec continues to promote high-quality development of China's shale gas industry. Announcement • Apr 08
China Petroleum & Chemical Corporation, Annual General Meeting, May 28, 2025 China Petroleum & Chemical Corporation, Annual General Meeting, May 28, 2025, at 09:00 China Standard Time. Location: swissotel beijing hong kong macau center, no. 2 chaoyangmen north street, dongcheng district, beijing, China Announcement • Mar 28
China Petroleum & Chemical Corporation to Report Q1, 2025 Results on Apr 29, 2025 China Petroleum & Chemical Corporation announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Mar 24
China Petroleum & Chemical Corporation Proposes Final Ordinary Dividend for the Year Ended 31 December 2024, Payable on 27 June 2025 China Petroleum & Chemical Corporation proposed a final ordinary dividend of RMB 0.14 per share for the financial year ended 31 December 2024. The ex-dividend date is 09 June 2025, with the record date 17 June 2025. The dividend payment is scheduled for 27 June 2025. Announcement • Jan 15
China Petroleum & Chemical Corporation Announces Resignation of Zhang Shaofeng as Chairman of the Supervisory Committee and Supervisor The supervisory committee (the Supervisory Committee) of China Petroleum & Chemical Corporation (Sinopec Corp.) received a resignation letter from Mr. Zhang Shaofeng on 15 January 2025. Due to change of working arrangement, Mr. Zhang Shaofeng resigned as Chairman of the Supervisory Committee and supervisor of Sinopec Corp. Mr. Zhang Shaofeng has confirmed that he has no disagreement with the Supervisory Committee and there are no other matters relating to his resignation that need to be brought to the attention of shareholders of Sinopec Corp. Mr. Zhang Shaofeng has been diligent and responsible during his tenure. Announcement • Dec 27
China Petroleum & Chemical Corporation to Report Fiscal Year 2024 Results on Mar 24, 2025 China Petroleum & Chemical Corporation announced that they will report fiscal year 2024 results on Mar 24, 2025 Announcement • Sep 30
China Petroleum & Chemical Corporation to Report Q3, 2024 Results on Oct 29, 2024 China Petroleum & Chemical Corporation announced that they will report Q3, 2024 results on Oct 29, 2024 Announcement • Aug 28
China Petroleum & Chemical Corporation Announces Interim Dividend for the Period Ended June 30, 2024, Payable on September 26, 2024 China Petroleum & Chemical Corporation announced interim dividend of RMB 0.146 per share for the period ended June 30, 2024. Ex-dividend date is September 05, 2024; Record date is September 12, 2024; Payment date is September 26, 2024. Announcement • May 15
China Petroleum & Chemical Corporation, Annual General Meeting, Jun 28, 2024 China Petroleum & Chemical Corporation, Annual General Meeting, Jun 28, 2024, at 09:00 China Standard Time. Location: No. 2, Chaoyangmen North Avenue, Dongcheng District, Beijing China Announcement • Apr 10
China Petroleum & Chemical Corporation Completes the Drilling of China's Deepest Geothermal Exploration Well, the Fushen-1 Well in Hainan with a Well Depth of 5,200 Meters China Petroleum & Chemical Corporation has successfully completed the drilling of China's deepest geothermal exploration well, the Fushen-1 Well in Hainan with a well depth of 5,200 meters. The milestone has revealed the mechanism of deep geothermal formation and enrichment in South China, the new breakthrough in the exploration of hot dry rock in terms of demographic region and depth is of great significance to enhance the large-scale development and utilization of geothermal resources in South China and aid the energy structure adjustment. The drilling goal of Fushen-1 Well is granite dated 250 million years ago. Since the exploration was launched in August 2023, Sinopec has adopted multiple independently developed innovative technologies, including the combination of dual-drive drilling and high-pression injection, to reach the temperature limit of hot dry rock stipulated by the national energy industry standards, while forming the key technologies of detection and evaluation of deep geothermal resources. Next, Sinopec will carry out extensive research and field tests at Fushen-1 Well to establish the first platform integrating research, education, and experimentation of deep geothermal in South China, and explore to formulate theoretical methods and technical systems applicable to the region and help China to achieve the "Dual-Carbon" goal. The development and application of deep geothermal has promising prospects, as a stable, reliable, green, and low-carbon renewable energy resource, it has the advantages of large reserves, wide distribution, and is environmentally friendly. According to the China's geological surveys, the hot dry rock geothermal resources within the range of 3 kilometers to 10,000 meters underground in China's land area are equivalent to 856 trillion tons of standard coal, and if only 2% of them are extracted, they can reach 2,993 times the annual energy consumption of China in 2023. Announcement • Mar 29
China Petroleum & Chemical Corporation to Report Q1, 2024 Results on Apr 30, 2024 China Petroleum & Chemical Corporation announced that they will report Q1, 2024 results on Apr 30, 2024 Announcement • Mar 14
China Petroleum & Chemical Corporation Completes West Sichuan Gas Field China Petroleum & Chemical Corporation has announced that the West Sichuan Gas Field, Sinopec's third 100-billion-cubic-meter submarine natural gas field in the Sichuan basin, has been completed, marking another major milestone for its Project Deep Earth - Sichuan and Chongqing Natural Gas Base. The new gas field, with an annual output of 2 billion cubic meters of natural gas and 130,000 tons of sulfur, is set to provide more clean energy for Southwestern China and the regions along the Sichuan-East pipeline. The Sichuan Basin, rich in natural gas resources, has been the focus of Sinopec's deep-sea oil and gas exploration since 2000, which led to the discovery of the Puguang and Yuanba gas fields. Later, Sinopec Southwestern Petroleum Bureau unveiled the formation mechanism and enrichment regularities of the tidal flat facies dolomite gas reservoir and, in 2014, detected the West Sichuan gas Field, which holds proven geological reserves of over 100 billion cubic meters. Sinopec overcome challenges such as low porosity and permeability in the West Sichuan Gas field by pioneering engineering solutions, resulting in high yields with fewer wells. Innovations include a new anti-collapse drilling fluid system and advanced technologies for controlling borehole trajectories in ultra-deep wells over 8,000 meters. Their segmentation technology for ultra-long horizontal wells is now considered, significantly enhancing the productivity and reserve extraction of individual wells. The West Sichuan Gas Field Inc. features integrated gas extraction and desulfurization processes, ensuring closed-loop desulfurization and efficient green production. The gas field boasts natural gas sulfur recovery rates of over 99.9% and produces gas that meets national standards while ensuring zero wastewater discharge. Additionally, it implements smart technology to enhance safety, risk control, and operation management, reducing carbon emissions. Sinopec has significantly developed gas reserves in the Sichuan Basin, including the Puguang and YuanBA sour gas fields with over 100 billion cubic meters each, and the Fuling and Weirong shale gas fields, the former being China's first shale gas field that has 10 billion cubic meters of output, the latter holding more than 100 billion cubic meters in reserves. The company has nearly 3 trillion cubic meters of gas reserves in the basin, achieving an annual output of 26 billion cubic meters and a total production exceeding 200 billion cubic meters. Announcement • Jan 22
China Petroleum & Chemical Corporation Announces Appointment of Mr. Guo Xusheng as Chief Geologist China Petroleum & Chemical Corporation announced that Mr. Guo Xusheng has been appointed as the Chief Geologist of Sinopec Corp. with a term commencing from the date of approval by the Board to the date when the term of the eighth session of the Board expires. The biography of Mr. Guo is as follows: Guo Xusheng, aged 58. Mr. Guo is a professor level senior engineer with a doctor's degree and an academician of the Chinese Academy of Engineering. In September 2014, he was appointed as General Manager and Member of CPC Committee of Sinopec Exploration Company; in June 2016, he was appointed as General Manager and Deputy Party Secretary of CPC Committee of Sinopec Exploration Company; in November 2020, he was appointed as Deputy Chief Geologist of Sinopec Corp.; in July 2022, he was appointed as Deputy Chief Geologist of Sinopec Corp., Dean and Deputy Party Secretary of CPC Committee of Sinopec Petroleum Exploration and Production Research Institute, and Executive Director and General Manager of Sinopec Petroleum Exploration and Production Research Institute Co. Ltd. Announcement • Dec 29
China Petroleum & Chemical Corporation to Report Fiscal Year 2023 Results on Mar 25, 2024 China Petroleum & Chemical Corporation announced that they will report fiscal year 2023 results on Mar 25, 2024 Announcement • Aug 28
China Petroleum & Chemical Corporation Announces Interim Dividend for the Six Months Ended June 30, 2023, Payable on September 28, 2023 China Petroleum & Chemical Corporation announced interim dividend of RMB 0.145 per share for the six months ended June 30, 2023. Ex-dividend date is September 07, 2023. Record date is September 14, 2023. Payment date is September 28, 2023. Announcement • Aug 24
Shell Reportedly Taps Goldman Sachs to Explore Singapore Refinery Sale Shell plc (LSE:SHEL) is considering a sale of its Singapore refining and petrochemical plants as part of a broader strategic review and has hired investment bank Goldman Sachs to explore a potential deal, said several sources close to the matter. The global energy major's new Chief Executive Officer, Wael Sawan, is targeting spending cuts over the next two years to boost profitability while remaining committed to achieving net zero emissions by 2050. Those efforts include the review of energy and chemicals assets on Singapore's Bukom and Jurong islands, announced in June, as the group seeks to repurpose its energy and chemical parks globally to offer more low-carbon solutions to customers. "Our strategic review is ongoing and we are exploring several options including divestment," a Shell spokesperson told Reuters on August 23. Singapore's position as a regional trading and marketing hub remains important, she added. Companies that are reviewing Shell's Singapore assets include Asia's largest refiner, China's China Petroleum & Chemical Corporation (SEHK:386) (Sinopec), as well as global trading companies Vitol Asia Pte Ltd. and Trafigura Limited, the sources said. For trading companies, the site is seen as a potential oil storage and distribution hub, some of the sources said. Goldman Sachs, Sinopec, Trafigura and Vitol declined to comment. Announcement • Jul 26
China Petroleum & Chemical Corporation Announces Appointment Mr. Niu Shuanwen as Senior Vice President of Sinopec Corp China Petroleum & Chemical Corporation announced that Mr. Niu Shuanwen has been appointed as a Senior Vice President of Sinopec Corp. with a term commencing from the date of approval by the Board to the date when the term of the eighth session of the Board expires. The biography of Mr. Niu Shuanwen is as follows: Niu Shuanwen, aged 49. Mr. Niu is a professor level senior engineer with a doctor's degree. In October 2018, he was appointed as Deputy General Manager of Sinopec Shengli Oilfield Company; in May 2020, he was appointed as General Manager and Deputy Secretary of CPC Committee of Sinopec Shengli Petrole um Administrative Bureau Co. Ltd., and General Manager of Sinopec Shengli Oilfield Company; in January 2022, he was appointed as Executive Director and Secretary of CPC Committee of Sinopec Shengli Petroleum Administrative Bureau Co. Ltd., and Representative of Sinopec Shengli Oilfield Company; in June 2023, he was appointed as Member of the Leading Party Member Group and Vice President of China Petrochemical Corporation. Announcement • Jun 28
China Petroleum & Chemical Corporation to Report First Half, 2023 Results on Aug 28, 2023 China Petroleum & Chemical Corporation announced that they will report first half, 2023 results on Aug 28, 2023 Announcement • May 31
China Petroleum & Chemical Corporation Approves Final Dividend for the Year Ended 31 December 2022, Payable on 30 June 2023 China Petroleum & Chemical Corporation approved final dividend of RMB 0.195 per share for the year ended 31 December 2022. Ex-dividend date is 12 June 2023. Record date is 20 June 2023. Payment date is 30 June 2023. Date of shareholders' approval 30 May 2023. Announcement • May 17
China Petroleum & Chemical Corporation Announces Board Resignations The board of directors of China Petroleum & Chemical Corporation received resignations from Mr. Liu Hongbin and Mr. Zhao Rifeng on 16 May 2023 respectively. Due to their age, Mr. Liu Hongbin resigned as an executive director, a member of strategy committee of the Board and a senior vice president of Sinopec Corp., Mr. Zhao Rifeng resigned as a vice president of Sinopec Corp. Announcement • May 05
China Petroleum & Chemical Corporation Starts the Drilling of Asia's Deepest Oil and Gas Well in Tarim Basin China Petroleum & Chemical Corporation has initiated the drilling of Project Deep Earth 1-Yuejin 3-3XC Well ("the Well") on May 1 in the Tarim Basin, Xinjiang Uyghur Autonomous Region. With a design depth of 9,472 meters, it will be the deepest oil and gas well in Asia and a breakthrough of milestone significance in China's ultra-deep oil and gas exploration, which now has technological and equipment capabilities. Located in the Shaya County of Aksu Prefecture by the edge of the Taklamakan Desert, the Well has completed stratigraphic sealing of the upper 1,500 meters in only four to five days. The drilling operation, carried out by Sinopec Oilfield Service Corporation, is estimated to reach the carboniferous strata in 21 days, which will set a new record in the region. The extensively difficult and challenging drilling operation is also setting a new Asian record for horizontal displacement in ultra-deep drilling. Wells with a depth of over 9,000 meters are defined as ultra-deep wells, which is the most challenging field of oil and gas engineering technology development. The depth of the Well is 624 meters higher than Everest. In addition to the common bottlenecks of complex geological structure and high temperature, pressure, and hydrogen sulfide content, the well has also been designed for a 3,400-meter horizontal drilling distance, which brings up new issues such as difficult casing and the formation of cuttings bed in horizontal depth. Sinopec Northwest China Petroleum Bureau has innovatively adopted ultra-deep and large displacement technology that accesses the rich oil and gas resources without damaging the wetland natural reserve. Equipped with "a pair of eyes", the high-temperature and high-efficiency directional technique transmits signals from the vertical depth of 7,200 meters enabled by the high-precision drilling measurement and control system. Sinopec aims to launch pilot ultra-deep exploration projects and push the limits of depth through innovation-driven development of deep marine facies geological theory and exploration technologies. Through its self-developed rotary geo-steerable drilling system and the high-temperature and high-pressure logging equipment, Sinopec has achieved leapfrog development of fast drilling in high precision. As of now, the Shunbei oil and gas field of the Shendi-1 Project has 49 oil and gas wells that are deeper than 8,000 meters, and multiple wells have set new Asian records. 
