Regression analysis and its application to oil and gas exploration:A case study of hydrocarbon loss recovery and porosity prediction,China

In oil and gas exploration,elucidating the complex interdependencies among geological variables is paramount.Our study introduces the application of sophisticated regression analysis method at the forefront,aiming not just at predicting geophysical logging curve values but also innovatively mitigate hydrocarbon depletion observed in geochemical logging.Through a rigorous assessment,we explore the efficacy of eight regression models,bifurcated into linear and nonlinear groups,to accommodate the multifaceted nature of geological datasets.Our linear model suite encompasses the Standard Equation,Ridge Regression,Least Absolute Shrinkage and Selection Operator,and Elastic Net,each presenting distinct advantages.The Standard Equation serves as a foundational benchmark,whereas Ridge Regression implements penalty terms to counteract overfitting,thus bolstering model robustness in the presence of multicollinearity.The Least Absolute Shrinkage and Selection Operator for variable selection functions to streamline models,enhancing their interpretability,while Elastic Net amalgamates the merits of Ridge Regression and Least Absolute Shrinkage and Selection Operator,offering a harmonized solution to model complexity and comprehensibility.On the nonlinear front,Gradient Descent,Kernel Ridge Regression,Support Vector Regression,and Piecewise Function-Fitting methods introduce innovative approaches.Gradient Descent assures computational efficiency in optimizing solutions,Kernel Ridge Regression leverages the kernel trick to navigate nonlinear patterns,and Support Vector Regression is proficient in forecasting extremities,pivotal for exploration risk assessment.The Piecewise Function-Fitting approach,tailored for geological data,facilitates adaptable modeling of variable interrelations,accommodating abrupt data trend shifts.Our analysis identifies Ridge Regression,particularly when augmented by Piecewise Function-Fitting,as superior in recouping hydrocarbon losses,and underscoring its utility in resource quantification refinement.Meanwhile,Kernel Ridge Regression emerges as a noteworthy strategy in ameliorating porosity-logging curve prediction for well A,evidencing its aptness for intricate geological structures.This research attests to the scientific ascendancy and broad-spectrum relevance of these regression techniques over conventional methods while heralding new horizons for their deployment in the oil and gas sector.The insights garnered from these advanced modeling strategies are set to transform geological and engineering practices in hydrocarbon prediction,evaluation,and recovery.

Research progress and potential of new enhanced oil recovery methods in oilfield development

This paper reviews the basic research means for oilfield development and also the researches and tests of enhanced oil recovery(EOR)methods for mature oilfields and continental shale oil development,analyzes the problems of EOR methods,and proposes the relevant research prospects.The basic research means for oilfield development include in-situ acquisition of formation rock/fluid samples and non-destructive testing.The EOR methods for conventional and shale oil development are classified as improved water flooding(e.g.nano-water flooding),chemical flooding(e.g.low-concentration middle-phase micro-emulsion flooding),gas flooding(e.g.micro/nano bubble flooding),thermal recovery(e.g.air injection thermal-aided miscible flooding),and multi-cluster uniform fracturing/water-free fracturing,which are discussed in this paper for their mechanisms,approaches,and key technique researches and field tests.These methods have been studied with remarkable progress,and some achieved ideal results in field tests.Nonetheless,some problems still exist,such as inadequate research on mechanisms,imperfect matching technologies,and incomplete industrial chains.It is proposed to further strengthen the basic researches and expand the field tests,thereby driving the formation,promotion and application of new technologies.

Formation,evolution,reconstruction of black shales and their influence on shale oil and gas resource

Black shales are important products of material cycling and energy exchange among the lithosphere,atmosphere,hydrosphere,and biosphere.They are widely distributed throughout geological history and provide essential energy and mineral resources for the development of human society.They also record the evolution process of the earth and improve the understanding of the earth.This review focuses on the diagenesis and formation mechanisms of black shales sedimentation,composition,evolution,and reconstruction,which have had a significant impact on the formation and enrichment of shale oil and gas.In terms of sedimentary environment,black shales can be classified into three types:Marine,terrestrial,and marine-terrestrial transitional facies.The formation processes include mechanisms such as eolian input,hypopycnal flow,gravity-driven and offshore bottom currents.From a geological perspective,the formation of black shales is often closely related to global or regional major geological events.The enrichment of organic matter is generally the result of the interaction and coupling of several factors such as primary productivity,water redox condition,and sedimentation rate.In terms of evolution,black shales have undergone diagenetic evolution of inorganic minerals,thermal evolution of organic matter and hydrocarbon generation,interactions between organic matter and inorganic minerals,and pore evolution.In terms of reconstruction,the effects of fold deformation,uplift and erosion,and fracturing have changed the stress state of black shale reservoirs,thereby having a significant impact on the pore structure.Fluid activity promotes the formation of veins,and have changed the material composition,stress structure,and reservoir properties of black shales.Regarding resource effects,the deposition of black shales is fundamental for shale oil and gas resources,the evolution of black shales promotes the shale oil and gas formation and storage,and the reconstruction of black shales would have caused the heterogeneous distribution of oil and gas in shales.Exploring the formation mechanisms and interactions of black shales at different scales is a key to in-depth research on shale formation and evolution,as well as the key to revealing the mechanism controlling shale oil and gas accumulation.The present records can reveal how these processes worked in geological history,and improve our understanding of the coupling mechanisms among regional geological events,black shales evolution,and shale oil and gas formation and enrichment.

Shale oil and gas exploitation in China:Technical comparison with US and development suggestions

The shale oil and gas exploitation in China is technically benchmarked with the United States in terms of development philosophy,reservoir stimulation treatment,fracturing parameters,fracturing equipment and materials,oil/gas production technology,and data/achievements sharing.It is recognized that the shale oil and gas exploitation in China is weak in seven aspects:understanding of flow regimes,producing of oil/gas reserves,monitoring of complex fractures,repeated stimulation technology,oil/gas production technology,casing deformation prevention technology,and wellbore maintenance technology.Combined with the geological and engineering factors of shale oil and gas in China,the development suggestions of four projects are proposed from the macro-and micro-perspective,namely,basic innovation project,exploitation technology project,oil/gas production stabilization project,and supporting efficiency-improvement project,so as to promote the rapid,efficient,stable,green and extensive development of shale oil and gas industry chain and innovation chain and ultimately achieve the goal of“oil volume stabilizing and gas volume increasing”.

Research progress and key issues of ultra-deep oil and gas exploration in China

Based on the recent oil and gas discoveries and geological understandings on the ultra-deep strata of sedimentary basins, the formation and occurrence of hydrocarbons in the ultra-deep strata were investigated with respect to the processes of basin formation, hydrocarbon generation, reservoir formation and hydrocarbon accumulation, and key issues in ultra-deep oil and gas exploration were discussed. The ultra-deep strata in China underwent two extensional-convergent cycles in the Meso-Neoproterozoic Era and the Early Paleozoic Era respectively, with the tectonic-sedimentary differentiation producing the spatially adjacent source-reservoir assemblages. There are diverse large-scale carbonate reservoirs such as mound-beach, dolomite, karst fracture-vug, fractured karst and faulted zone, as well as over-pressured clastic rock and fractured bedrock reservoirs. Hydrocarbons were accumulated in multiple stages, accompanied by adjusting and finalizing in the late stage. The distribution of hydrocarbons is controlled by high-energy beach zone, regional unconformity, paleo-high and large-scale fault zone. The ultra-deep strata endow oil and gas resources as 33% of the remaining total resources, suggesting an important successive domain for hydrocarbon development in China. The large-scale pool-forming geologic units and giant hydrocarbon enrichment zones in ultra-deep strata are key and promising prospects for delivering successive discoveries. The geological conditions and enrichment zone prediction of ultra-deep oil and gas are key issues of petroleum geology.

Global oil and gas development in 2022:Situation,trends and enlightenment

Through analysis of four aspects,including the distribution and production of global oil and gas fields,the distribution and changes of remaining recoverable reserves,the differences in oil and gas production between regions/countries,and the development potential of oil and gas fields with production capacity not built and to be built,this paper presents the situation and trends of global oil and gas development in 2022.It is found that,in 2022,oil and gas fields are widely distributed worldwide,and upstream production activities continue to recover;the oil and gas reserves decrease slightly year on year,and the oil and gas reserves in sea areas increase significantly;the oil and gas production increases continuously,and the key resource countries make a significant contribution in oil and gas production growth;the oil and gas fields with production capacity not built and to be built hold abundant reserves,and their development potential will be gradually released with the economic benefits increase.Further analysis is conducted from the perspectives of global oil and gas resources continuity,geopolitical risks,potential of international cooperation,and upgrade of unconventional oil and gas technology.Finally,in view of core business domains and strategies under the new situation,the Chinese oil companies are recommended to:(1)keep a foothold in onshore conventional oil and gas development by virtue of their comparative advantages and learning from other’s experience in cooperation;(2)carry out pilot tests on development adjustment,and deepen the international cooperation in enhanced oil/gas recovery;(3)improve the oil and gas operation capabilities in sea areas to transform from follower as minority shareholder to joint venture and then to independent operations;and(4)seek appropriate ways for shale oil/gas development to reduce the dependence on foreign oil and gas.

Analysis of the world deepwater oil and gas exploration situation

The global trends in deepwater oil and gas exploration,characteristics of deepwater oil and gas discovery,and layout of deepwater oil and gas exploration business by seven major international oil companies are systematically analyzed using commercial databases(e.g.S&P Global and Rystad)and public information of oil companies.The deepwater area is currently the most important domain for global oil and gas exploration and discovery,with the most discoveries and reserves in passive continental margin basins.The deepwater discoveries have the greatest contribution to the total newly discovered oil and gas reserves in the sea areas,with an increasing number of lithological reservoirs discovered,and oil and gas discoveries mainly distributed in the Mesozoic–Cenozoic.The seven major international oil companies are widely active in various aspects of deepwater oil and gas exploration and development,and play a leading role.Based on years of theoretical understanding of global oil and gas geology and resource evaluation,it is proposed that favorable deepwater exploration areas in the future will mainly focus on three major areas:the Atlantic coast,the Indian Ocean periphery,and the Arctic Ocean periphery.Six suggestions are put forward for expanding overseas deepwater oil and gas exploration business:first,expand the sources for obtaining multi-user seismic data and improve the scientific selection of deepwater exploration areas;second,increase efforts to obtain deepwater exploration projects in key areas;third,adopt various methods to access into/exit from resource licenses flexibly;fourth,acquire licenses with large equity and operate in“dual-exploration”model;fifth,strengthen cooperation with leading international oil companies in deepwater technology;and sixth,improve business operation capabilities and gradually transform from“non-operators”to“operators”.

Impacts of Oil Exploration (Oil and Gas Conflicts;Niger Delta as a Case Study)

The discovery of Oil and Gas in Nigeria led to exploration of crude oil for revenue basis. Oil exploration and exploitation caused environmental problems which resulted into major conflicts in the Niger Delta area of Nigeria. The article examines the impact of oil exploration, and oil and gas conflicts in Niger Delta area and it highlights the problems of pipeline vandalism, structure of oil and gas and the general obstacles in the industry. It discovers that pipeline vandalism, crude oil theft, pollution, oil spillage causes serious environmental degradation which resulted into serious conflicts. The article discovered that environmental problems in the area dislodged the people of their means of livelihood both in the area of fishing and farming. It recommends that there should be a compelling environmental restoration of natural resources by deploying land treatment technologies. Government should sanction multinational companies discharging oils or creating environmental pollution through necessary laws and regulations.

Progress in China's Unconventional Oil & Gas Exploration and Development and Theoretical Technologies

The new century has witnessed a strategic breakthrough in unconventional oil ＆ gas.Hydrocarbon accumulated in micro-/nano-scale pore throat shale systems has become an important domain that could replace current oil ＆ gas resources.Unconventional oil ＆ gas plays an increasingly important role in our energy demand.Tight gas,CBM,heavy oil and asphaltic sand have served as a key domain of exploration ＆ development,with tight oil becoming a ＇bright spot＇ domain and shale gas becoming a ＇hotspot＇ domain.China has made great breakthroughs in unconventional oil ＆ gas resources,such as tight gas,shale gas,tight oil and CBM,and great progress in oil shale,gas hydrate,heavy oil and oil sand.China has an estimated（223-263）×10~8t of unconventional oil resources and（890-1260）×l0^（12）m^3 of gas resources.China has made a breakthrough for progress in unconventional oil ＆ gas study.New progress achieved in fine-grained sedimentary studies related to continental open lacustrine basin large-scale shallow-water delta sand bodies,lacustrine basin central sandy clastic flow sediments and marine-continental fine-grained sediments provide a theoretical basis for the formation and distribution of basin central reservoir bodies.Great breakthroughs have been made in unconventional reservoir geology in respect of research methodology ＆ technology,multi-scale data merging and physical simulation of formation conditions.Overall characterization of unconventional reservoirs via multi-method and multi-scale becomes increasingly popular and facilitates the rapid development of unconventional oil ＆ gas geological theory,method and technology.The formation of innovative,continuous hydrocarbon accumulation theory,the establishment of the framework of the unconventional oil ＆ gas geological theory system,and the determination of the implications,geological feature,formation mechanism,distribution rule and core technology of unconventional oil＆ gas geological study lays a theoretical foundation for extensive unconventional oil ＆ gas exploration and development.Theories and technologies of unconventional oil ＆ gas exploration and development developed rapidly,including some key evaluation techniques such as ＇sweet spot zone＇ integrated evaluation and a six-property evaluation technique that uses hydrocarbon source,lithology,physical property,brittleness,hydrocarbon potential and stress anisotropy,and some key development ＆engineering technologies including micro-seismic monitoring,horizontal drilling ＆ completion and ＂factory-like＂ operation pattern, ＂man-made reservoir＂ development,which have facilitated the innovative development of unconventional oil ＆ gas.These breakthroughs define a new understanding in four aspects：①theoretical innovation;② key technologies;③ complete market mechanism and national policy support;and ④ well-developed ground infrastructure,which are significant for prolonging the life cycle of petroleum industry,accelerating the upgrade and development of theories and technologies and altering the global traditional energy structure.

Evaluation of the oil and gas preservation conditions, source rocks, and hydrocarbongenerating potential of the Qiangtang Basin: New evidence from the scientific drilling project

The Qiangtang Basin of the Tibetan Plateau,located in the eastern Tethys tectonic domain,is the largest new marine petroliferous region for exploration in China.The scientific drilling project consisting primarily of well QK-1 and its supporting shallow boreholes for geological surveys(also referred to as the Project)completed in recent years contributes to a series of new discoveries and insights into the oil and gas preservation conditions and source rock evaluation of the Qiangtang Basin.These findings differ from previous views that the Qiangtang Basin has poor oil and gas preservation conditions and lacks high-quality source rocks.As revealed by well QK-1 and its supporting shallow boreholes in the Project,the Qiangtang Basin hosts two sets of high-quality regional seals,namely an anhydrite layer in the Quemo Co Formation and the gypsum-bearing mudstones in the Xiali Formation.Moreover,the Qiangtang Basin has favorable oil and gas preservation conditions,as verified by the comprehensive study of the sealing capacity of seals,basin structure,tectonic uplift,magmatic activity,and groundwater motion.Furthermore,the shallow boreholes have also revealed that the Qiangtang Basin has high-quality hydrocarbon source rocks in the Upper Triassic Bagong Formation,which are thick and widely distributed according to the geological and geophysical data.In addition,the petroleum geological conditions,such as the type,abundance,and thermal evolution of organic matter,indicate that the Qiangtang Basin has great hydrocarbon-generating potential.

Technologcial progress and development directions of PetroChina overseas oil and gas exploration

Through a comprehensive review of PetroChina overseas oil and gas exploration of more than 20 years,we systematically summarize the development history,development status and application results of the overseas oil and gas exploration theory and technology.Overseas oil and gas exploration has experienced four stages,exploratory exploration,progressive exploration,risk exploration and efficient exploration.The overseas exploration theory and technology have also gone through the initially direct borrow of domestic mature technology to the integrated application,and then to the research innovation based on overseas features.A series of overseas oil and gas exploration theories and technologies represented by theories and technologies for passive rift basins,salt basins and foreland basin slopes,and global oil and gas geology and resource evaluation have been established.On the basis of deep analysis of the future overseas exploration development demand for the technology,and combined with the domestic and overseas future development trend of theory and technology,this paper systematically discusses the overseas exploration difficulties,technical requirements and the main development directions and aims of exploration theory and technology in the future:(1)Develop conventional onshore oil and gas exploration techniques continuously for the overseas exploration and keep them at an internationally advanced level.(2)Develop the global oil and gas resources and assets integrated optimization evaluation technology and its information system construction project innovatively to reach the international leading level.(3)Develop the deep water exploration technology integratively and narrow the gap with the world’s advanced level.

Theoretical Progress and Key Technologies of Onshore Ultra-Deep Oil/Gas Exploration

Oil/gas exploration around the world has extended into deep and ultra-deep strata because it is increasingly difficult to find new large-scale oil/gas reservoirs in shallow–middle buried strata. In recent years, China has made remarkable achievements in oil/gas exploration in ultra-deep areas including carbonate and clastic reservoirs. Some (ultra) large-scale oil and gas fields have been discovered. The oil/gas accumulation mechanisms and key technologies of oil/gas reservoir exploration and development are summarized in this study in order to share China’s experiences. Ultra-deep oil/gas originates from numerous sources of hydrocarbons and multiphase charging. Liquid hydrocarbons can form in ultradeep layers due to low geothermal gradients or overpressures, and the natural gas composition in ultra-deep areas is complicated by the reactions between deep hydrocarbons, water, and rock or by the addition of mantle- or crust-sourced gases. These oils/gases are mainly stored in the original highenergy reef/shoal complexes or in sand body sediments. They usually have high original porosity. Secondary pores are often developed by dissolution, dolomitization, and fracturing in the late stage. The early pores have been preserved by retentive diageneses such as the early charging of hydrocarbons. Oil/gas accumulation in ultra-deep areas generally has the characteristics of near-source accumulation and sustained preservation. The effective exploration and development of ultra-deep oil/gas reservoirs depend on the support of key technologies. Use of the latest technologies such as seismic signal acquisition and processing, low porosity and permeability zone prediction, and gas–water identification has enabled the discovery of ultra-deep oil/gas resources. In addition, advanced technologies for drilling, completion, and oil/gas testing have ensured the effective development of these fields.

Simulating the Effect of Hydrate Dissociation on Wellhead Stability During Oil and Gas Development in Deepwater

It is well known that methane hydrate has been identified as an alternative resource due to its massive reserves and clean property. However, hydrate dissociation during oil and gas development(OGD) process in deep water can affect the stability of subsea equipment and formation. Currently, there is a serious lack of studies over quantitative assessment on the effects of hydrate dissociation on wellhead stability. In order to solve this problem, ABAQUS finite element software was used to develop a model and to evaluate the behavior of wellhead caused by hydrate dissociation. The factors that affect the wellhead stability include dissociation range, depth of hydrate formation and mechanical properties of dissociated hydrate region. Based on these, series of simulations were carried out to determine the wellhead displacement. The results revealed that, continuous dissociation of hydrate in homogeneous and isotropic formations can causes the non-linear increment in vertical displacement of wellhead. The displacement of wellhead showed good agreement with the settlement of overlying formations under the same conditions. In addition, the shallower and thicker hydrate formation can aggravate the influence of hydrate dissociation on the wellhead stability. Further, it was observed that with the declining elastic modulus and Poisson's ratio, the wellhead displacement increases. Hence, these findings not only confirm the effect of hydrate dissociation on the wellhead stability, but also lend support to the actions, such as cooling the drilling fluid, which can reduce the hydrate dissociation range and further make deepwater operations safer and more efficient.

Distribution characteristics, exploration and development, geological theories research progress and exploration directions of shale gas in China

The shale gas resources in China have great potential and the geological resources of shale gas is over 100×10^(12)m^(3),which includes about 20×10^(12)m^(3) of recoverable resources.Organic-rich shales can be divided into three types according to their sedimentary environments,namely marine,marine-continental transitional,and continental shales,which are distributed in 13 stratigraphic systems from the Mesoproterozoic to the Cenozoic.The Sichuan Basin and its surrounding areas have the highest geological resources of shale gas,and the commercial development of shale gas has been achieved in the Upper Ordovician Wufeng Formation-Lower Silurian Longmaxi Formation in these areas,with a shale gas production of up to 20×10^(9)m^(3) in 2020.China has seen rapid shale gas exploration and development over the last five years,successively achieving breakthroughs and important findings in many areas and strata.The details are as follows.(1)Large-scale development of middle-shallow shale gas(burial depth:less than 3500 m)has been realized,with the productivity having rapidly increased;(2)breakthroughs have been constantly made in the development of deep shale gas(burial depth:3500-4500 m),and the ultradeep shale gas(burial depth:greater than 4500 m)is under testing;(3)breakthroughs have been made in the development of normal-pressure shale gas,and the assessment of the shale gas in complex tectonic areas is being accelerated;(4)shale gas has been frequently discovered in new areas and new strata,exhibiting a great prospect.Based on the exploration and development practice,three aspects of consensus have been gradually reached on the research progress in the geological theories of shale gas achieved in China.(1)in terms of deep-water fine-grained sediments,organic-rich shales are the base for the formation of shale gas;(2)in terms of high-quality reservoirs,the development of micro-nano organic matter-hosted pores serves as the core of shale gas accumulation;(3)in terms of preservation conditions,weak structural transformation,a moderate degree of thermal evolution,and a high pressure coefficient are the key to shale gas enrichment.As a type of important low-carbon fossil energy,shale gas will play an increasingly important role in achieving the strategic goals of peak carbon dioxide emissions and carbon neutrality.Based on the in-depth study of shale gas geological conditions and current exploration progress,three important directions for shale gas exploration in China in the next five years are put forward.

Development characteristics and orientation of tight oil and gas in China

Through reviewing the development history of tight oil and gas in China,summarizing theoretical understandings in exploration and development,and comparing the geological conditions and development technologies objectively in China and the United States,we clarified the progress and stage of tight oil and gas exploration and development in China,and envisaged the future development orientation of theory and technology,process methods and development policy.In nearly a decade,relying on the exploration and development practice,science and technology research and management innovation,huge breakthroughs have been made.The laws of formation,distribution and accumulation of tight oil and gas have been researched,the development theories such as"multi-stage pressure drop"and"man-made reservoirs"have been established,and several technology series have been innovated and integrated.These technology series include enrichment regions selection,well pattern deployment,single well production and recovery factor enhancement,and low cost development.As a result,both of reserves and production of tight oil and gas increase rapidly.However,limited by the sedimentary environment and tectonic background,compared with North America,China’s tight oil and gas reservoirs are worse in continuity,more difficult to develop and poorer in economic efficiency.Moreover,there are still some gaps in reservoir identification accuracy and stimulating technology between China and North America.In the future,Chinese oil and gas companies should further improve the resource evaluation method,tackle key technologies such as high-precision 3D seismic interpretation,man-made reservoir,and intelligent engineering,innovate theories and technologies to enhance single well production and recovery rate,and actively endeavor to get the finance and tax subsidy on tight oil and gas.

Prospective prediction and exploration situation of marine Mesozoic-Paleozoic oil and gas in the South Yellow Sea

The South Yellow Sea Basin is a large sedimentary basin superimposed by the Mesozoic-Paleozoic marine sedimentary basin and the Mesozoic-Cenozoic terrestrial sedimentary basin, where no oil and gas fields have been discovered after exploration for 58 years. After the failure of oil and gas exploration in terrestrial basins, the exploration target of the South Yellow Sea Basin turned to the marine Mesozoic- Paleozoic strata. After more than ten years' investigation and research, a lot of achievements have been obtained. The latest exploration obtained effective seismic reflection data of deep marine facies by the application of seismic exploration technology characterized by high coverage, abundant low-frequency components and strong energy source for the deep South Yellow Sea Basin. In addition, some wells drilled the Middle-Upper Paleozoic strata, with obvious oil and gas shows discovered in some horizons. The recent petroleum geological research on the South Yellow Sea Basin shows that the structure zoning of the marine residual basin has been redetermined, the basin structure has been defined, and 3 seismic reflection marker layers are traceable and correlatable in the residual thick Middle-Paleozoic strata below the continental Meso-Cenozoic strata in the South Yellow Sea Basin. Based on these, the seismic sequence of the marine sedimentary strata was established. According to the avaliable oil and gas exploration and research, the marine Mesozoic-Paleozoic oil and gas prospects of the South Yellow Sea were predicted as follows.(1) The South Yellow Sea Basin has the same sedimentary formation and evolution history during the sedimentary period of the Middle-Paleozoic marine basin with the Sichuan Basin.(2) There are 3 regional high-quality source rocks.(3) The carbonate and clastic reservoirs are developed in the Mesozoic- Paleozoic strata.(4) The three source-reservoir-cap assemblages are relatively intact.(5) The Laoshan Uplift is a prospect area for the Lower Paleozoic oil and gas, and the Wunansha Uplift is one for the marine Upper Paleozoic oil and gas.(6) The Gaoshi stable zone in the Laoshan Uplift is a favorable zone.(7) The marine Mesozoic-Paleozoic strata in the South Yellow Sea Basin has the geological conditions required to form large oil and gas fields, with remarkable oil and gas resources prospect. An urgent problem to be addressed now within the South Yellow Sea Basin is to drill parametric wells for the Lower Paleozoic strata as the target, to establish the complete stratigraphic sequence since the Paleozoic period, to obtain resource evaluation parameters, and to realize the strategic discovery and achieve breakthrough in oil and gas exploration understanding.

Status, trends and enlightenment of global oil and gas development in 2021

By analyzing the distribution of global oil and gas fields and the reasons why some oil and gas fields are not in production, the distribution characteristics of oil and gas remaining recoverable reserves and their year-on-year changes, the distribution characteristics of oil and gas production and their year-on-year changes, and the development potential of oil and gas to be tapped in 2021, this paper sorts out systematically the current status and characteristics of global oil and gas development, summaries the major trends of global oil and gas development, puts forward enlightenment for international oil and gas cooperation. In 2021, oil and gas fields were widely distributed, the number of non-producing oil and gas fields was large;the whole oil and gas remaining recoverable reserves declined slightly, unconventional oil and gas remaining recoverable reserves dropped significantly;the overall oil and gas production continuously increased, the outputs of key resource-host countries kept year-on-year growth;undeveloped oilfields had abundant reserves and great development potential. Combined with global oil and gas geopolitics, oil and gas industry development trends, oil and gas investment intensity, and the tracking and judgment of hotspot fields, the major trends of global oil and gas development in 2021 are summarized. On this basis, the four aspects of enlightenment and suggestions for international oil and gas cooperation and development strategies are put forward: attach great importance to the obligation of marine abandonment to ensure high-quality and long-term benefit development of offshore oil and gas;adhere to the principle of not going to dangerous and chaotic places, strengthen the concentration of oil and gas assets, and establish multi stable supply bases;based on the multi-scenario demand of natural gas, realize the transformation from integrated collaboration to full oil and gas industry chain development;increase the acquisition of high-quality large-scale assets, and pay attention to the continuous optimization of the shareholding ratio of projects at different stages.

Analysis of the world oil and gas exploration situation in 2021

The global exploration investment, new oil and gas discoveries, exploration business adjustment strategies of oil companies in 2021, and future favorable exploration domains are systematically analyzed using commercial databases such as IHS and public information of oil companies. It has been found that the world oil and gas exploration situation in 2021 has continued the downturn since the outbreak of COVID-19. The investment and drilling workload decreased slightly, but the success rate of exploration wells, especially deepwater exploration wells, increased significantly, and the newly discovered reserves increased slightly compared with last year. Deep waters of the passive continental margin basins are still the leading sites for discovering conventional large and medium-sized oil and gas fields. The conventional oil and gas exploration in deep formations of onshore petroliferous basins has been keeping a good state, with tight/shale oil and gas discoveries made in Saudi Arabia, Russia, and other countries. While strengthening the exploration and development of local resources, national, international, and independent oil companies have been focusing on major overseas frontiers using their advantages, including risk exploration in deep waters and natural gas. Future favorable exploration directions in the three major frontiers, the global deep waters, deep onshore formations, and unconventional resources, have been clarified. Four suggestions are put forward for the global exploration business of Chinese oil companies: first, a farm in global deepwater frontier basins in advance through bidding at a low cost and adopt the “dual exploration model” after making large-scale discoveries;second, enter new blocks of emerging hot basins in the world through farm-in and other ways, to find large oil and gas fields quickly;third, cooperate with national oil companies of the resource host countries in the form of joint research and actively participate exploration of deep onshore formations of petroliferous basins;fourth, track tight/shale oil and gas cooperation opportunities in a few countries such as Saudi Arabia and Russia, and take advantage of mature domestic theories and technologies to farm in at an appropriate time.