China's largest oil and gas field adds new energy to its main business
27 June 2022
On June 17, PetroChina held a virtual conference detailing its corporate social responsibility (CSR) for its Changqing oil field, the first time the company has released a CPR report to the public. PetroChina said that “new energy” will become the main business focus of the Changqing field, China’s largest oil and gas field, as it looks to actively respond to climate change.
He Jiangchuan, Executive Director at of Changqing, said: "Changqing oil field released the corporate social responsibility report in order to comprehensively sort out the experience of oil field reform and development, and summarise and report the practice of Changqing Oil field's fulfillment of social responsibility."
In the report, PetroChina said that Changqing will determine a "two-carbon" target timetable, formulate a special plan for green, low-carbon and new energy, and implement a green and low-carbon pilot demonstration zone project at the oil and gas field.
During the "14th Five-Year Plan" period, Changqing oil field will build 813 megawatts of photovoltaic power and 290 megawatts of wind power, build 28 geothermal projects, build a carbon capture, utilisation and storage (CCUS) project with an annual output of 300,000 tons, and build 16,900 mu of carbon sink forest.
Last year, Changqing oil field listed new energy as its main business for the first time, forming one of the company's three main businesses together with oil and natural gas. At present, the new energy power generation in Changqing has not yet been supplied to the public and is only used for oil field projects for their own use.
Changqing oil field is plans to become carbon neutral in its production process by 2035 before becoming fully carbon neutral in all processes by 2050. In 2021, Changqing oil field will save 513,100 tons of standard coal and reduce carbon dioxide emissions by 1,334,100 tons through energy conservation and consumption reduction, gas test recovery, wind and solar replacement, and CCUS.
Changqing oil field is the largest oil and gas field in China. Last year, the oil and gas equivalent of Changqing exceeded 62.45 million tons. Among them, crude oil output was 25.36 million tons, accounting for 31% of China's total crude oil output; natural gas output was 46.543 billion cubic meters, accounting for 23% of China's total output.
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