The Operating Performance of Huabei Oilfield was the Best in Ten Years

The Operating Performance of Huabei Oilfield was the Best in Ten Years

As of January 13, the Suqiao gas storage Group of Hebei Gas Storage Branch of North China Oilfield has produced more than 200 million cubic meters of gas this year, and continues to maintain an upward momentum. In 2023, the operating performance of North China Oilfield increased steadily, the development efficiency continued to improve, exceeded the performance indicators assigned by the group company, the main assessment indicators reached excellent values, and the operating performance reached the highest level in 10 years.

In 2023, North China Oilfield overcame difficult challenges such as international oil price shocks and flood disasters, and jointly promoted the development of oil and gas and new energy, and the company's operating performance rose against the "market".

Development is the driving force, and the scale and strength are constantly increasing. Huabei Oilfield adheres to the integrated development of oil and gas and new energy, effectively promotes the annual "Ten key projects", actively cultivates new advantages in industrial competition, improves the level of risk prevention, and continuously improves the overall profitability and development strength of the oilfield. In 2023, the company's third-level reserves maintained a growth trend for the third consecutive year, SEC reserve replacement rate was greater than 1 for three consecutive years, crude oil production continued to maintain an upward arrow, coal bed gas production and gas storage peak load capacity reached a record high, the development of new energy business accelerated comprehensively, and the comprehensive energy equivalent of oil fields changed the prefix for two consecutive years. China has made new achievements and made new contributions to ensuring national energy security and promoting coordinated regional development.

To tap the potential internally, costs continue to fall. The North China Oilfield adheres to rigorous investment, precise investment and efficiency investment, implements the "1+3" cost structure optimization project, and reduces the oil and gas production cost by 100 million yuan in 2023, and the investment quality and efficiency continue to improve. Precision regulation of production and operation, oil production costs, land investment to achieve a double decline. Deepen the construction of the operation area of the new oil and gas production management area, deeply tap the internal labor potential, and improve the "six in one" indicator system. In 2023, oilfield labor costs continue to decrease, and the efficiency of each unit is significantly improved. Bayan Oilfield has achieved a streamlined setup of "one four-center" institutions and a high-level employment of "100 million tons". The company strengthened centralized procurement and bidding management, increased equipment adjustment efforts, and reduced costs through the remanufacturing of pumping units, motors and other equipment, and the material procurement savings rate reached 10.04%.

To seek benefits from the market, the ability to create efficiency steadily increased. The North China Oilfield started Bayan crude oil train shipment in late March 2023, and the "two stations and four lines" of Bayan oilfield were completed and put into operation at the end of November, ending the history of crude oil relying on automobile transportation and effectively reducing the cost of tons of oil. Oil fields timely launch "low storage and high sales" inventory regulation marketing, and strive to maximize the benefits of oil and gas value chain. We highlighted the effectiveness of the market, implemented the "going global" strategy, adhered to the concept of open development, joint contribution and shared benefits, and leveraged the "three markets" of existing, emerging and overseas markets, further expanded the space of external markets, and made new breakthroughs in market efficiency relief.