 Daqing Oilfield Limited Company is a prominent subordinate of China National Petroleum Corporation (CNPC), covering businesses of oil and gas exploration and development, engineering services, facility manufacturing, chemical engineering, operation sustenance, field services, and other diversified businesses. 52 sub-companies are under the administration of Daqing Oilfield Limited Company The gross assets of Daqing Oilfield Limited Company total 207.2 billion RMB, the original fixed assets total 264.4billion RMB and the net value is 119.6billion RMB.
Daqing Oilfield is the largest in China, and also one of the rare giant sandstone oilfields in the world. Composed by 52 oil or gas fields including Saertu, Xingshugang, Lamadian and Chaoyanggou, Daqing Oilfield covers an extensive oil-bearing area of more than 6000km2. Exploration activities have been conducted in 15 basins distributed throughout Heilongjiang province, Hailer in Inner Mongolia, and Yanji and Huichun in Jilin province. The registered prospecting license of Daqing permits an area of 160,000 km2.
Daqing oilfield was discovered in 1959 and development activities began in 1960. After 49 years of development, cumulative production has exceeded 2 billion tons with 1.6 trillion RMB contributed to the nation.
The approaches and techniques innovated by Daqing are leading the world petroleum industry in development of giant continental sandstone oilfields of severe heterogeneity. The recovery rate of major oilfields in Daqing exceeds 50%. Daqing has gained a conspicuous reputation in China for maintaining 27 years of stable production with an annual yield of 50 million tons, and also for creating three other domestic records as the biggest commercial oil producer, highest tax payer and for maintaining the largest recovery factor in China.
The drilling competence of Daqing also deserves high praise both in China and foreign counties. For each year, Daqing is able to drill 6,000 wells, complete 10,000 km of 2D seismic acquisition, processing and interpretation, 5,000 km2 of 3D seismic acquisition, processing and interpretation, perform production logs to 19,000 wells, drilling logs to 1000 wells, and cementing to 7,500 wells. Daqing has the capability of undertaking an aggregated project independently, and for three years, has been listed among Engineering News-Record’s most capable 60 contractors in China.
The market share of field facilities and chemical products from Daqing has been expanding gradually, especially for the three best-known products; pumping units, Electrical Submersible Pumps (ESP) and perforation instruments. These products are not only market leaders in China, but they have also made several famous brands such as Lishen, Qingmao and Ironman recognized around world. The employees of Daqing Oilfield are regarded as a perseverant team inspired by “Daqing spirit” of being patriotic, pioneering, honest and dedicated, “Ironmans’s spirit”, and traditional customs of “3 values 4 musts” and “4 the same”. In the year 2007, Daqing won the China National Industry grand prize. Daqing has experienced an amazing journey from the very beginning up to now in which several decades have passed. Not only has it created miracles in China’s national petroleum industry, but also for the whole world and other peer oilfields. Daqing has been an unbelievable success story contributing to China’s social and economic development.
Entering a grand new century and another historic stage for Daqing Oilfield Company Ltd, a state-owned enterprise fulfilling economic, political and social responsibilities, the strategic objectives set up under the guidance of scientific outlook on development are “sustainable and stable oil production, complete and coordinated development, harmonious working and living environments, and the realization of a 100-year oilfield”. Moreover, Daqing oilfield confront new challenges with advanced technologies, and aim to maintain stable production of 40 million tons a year until the middle of the century at which stage Daqing will have gone through 100 years of development and still play an important role as an energy production base in China. Daqing Oilfield also leads the industrial forefronts in such diversified functions as engineering, facility manufacturing, petroleum chemistry and technological innovation, so as to ensure national petroleum security, to support the internationalization of CNPC, and to enhance the prosperous economy in Heilongjiang province.
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