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Geophysical Exploration Institute Wins Bid for Phase I 3D Seismic Exploration Project in the Pingshan Block
Recently, the Institute of Geophysical Exploration, in joint venture with the Southwest Branch of Oriental Geophysical Exploration, successfully won the bid for Phase I of the 3D seismic exploration project in the Pingshan Block of the Sichuan Basin, with a contract value of RMB 59.28 million. This successful bid is of great significance, marking the official entry of the Group’s first oil and gas block into the substantive exploration phase and laying an important foundation for strengthening Sichuan Province’s energy security and advancing its efforts to become a leading province in clean energy.
This project is closely aligned with Sichuan Province’s oil and gas resource exploration and development plan and its strategic deployment for breakthroughs in mineral prospecting, precisely matching the “unconventional-dominant, diversified-type” oil and gas development pattern of the Sichuan Basin. With the Wufeng–Longmaxi Formation shale gas as the core target stratum, the project concurrently prioritizes exploration of multiple key oil- and gas-bearing stratigraphic sequences, thereby achieving high alignment with the province’s overarching exploration priorities. During implementation, the project will leverage high-precision 3D seismic exploration to comprehensively delineate subsurface structural and reservoir characteristics, systematically assess regional oil and gas accumulation potential, and provide robust technical support for subsequent reserve reporting and production capacity development. This will help address the current shortcomings in Sichuan’s oil and gas exploration—namely, low discovery rates and underutilized resource potential—and facilitate the efficient conversion of regional oil and gas resource advantages into industrial strengths.
As the Group’s first entity tasked with oil and gas block exploration, the Geophysical Exploration Institute has always kept firmly in mind its strategic positioning as “the province’s premier force for the exploration and development of strategic mineral resources,” proactively shouldering the responsibility of serving as the provincial state-owned enterprise’s mainstay in oil and gas exploration and development. Looking ahead, the Institute will further deepen collaboration between central and local authorities, focus on tackling key technological bottlenecks—such as deep-layer exploration in the Sichuan Basin—and accelerate progress in the exploration and delineation of underground “gas reservoirs.” In doing so, it will not only contribute to the Group’s goal of becoming a world-class, resource-based, strategically important, large-scale state-owned enterprise, but also help Sichuan Province make the transformative leap from a major oil and gas resource province to a leading energy powerhouse, thereby injecting robust Sichuan strength into national energy security and the development of the Sichuan–Chongqing natural gas production base with capacity at the hundred-billion-cubic-meter level.
Address: No. 39 Qinghua Road, Qingyang District, Chengdu City, Sichuan Province
Email: sczywty@163.com
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