Industry: Shale gas development trapping bureau needs to increase private capital entry

Abstract Recently, Sinopec and Henan CBM Development and Utilization Co., Ltd. were punished by 8 million yuan and 6 million yuan respectively for the proportion of unconfirmed investment in the two shale gas tendering blocks. Some insiders believe that China's shale gas development is not only facing complex geological structures and...
Recently, Sinopec and Henan CBM Development and Utilization Co., Ltd. were punished by 8 million yuan and 6 million yuan respectively for the proportion of the unconfirmed investment in the two shale gas tendering blocks. Some insiders believe that the development of shale gas in China not only faces many factors such as the complicated geological structure and the inability to master the core technology. The above two companies "circle and not explore" are reflecting the dilemma of shale gas development in China.

China's shale gas recoverable reserves amount to 30 trillion cubic meters

The data shows that the global shale gas resources are 456 trillion cubic meters, mainly distributed in North America, Central Asia, China, the Middle East, North Africa, Latin America, the former Soviet Union and Europe. The United States is the first country in the world to discover and produce shale gas, and has achieved large-scale commercial exploitation of shale gas. China's natural gas resources are abundant, with a total resource of 336.6 trillion cubic meters and unconventional natural gas of 280.6 trillion cubic meters, five times the amount of conventional natural gas resources. Among them, the shale gas recoverable reserves are 1,115 trillion cubic feet and 31.57 trillion cubic meters.

It is reported that as early as 1999, China has begun to track the progress of foreign shale gas. By 2008, the state further demonstrated the implementation of the shale gas strategic constituency plan for the upper Yangtze area; in 2009, the relevant departments launched the shale gas national special focus on the work in the upper Yangtze region; in 2010, it was launched in three steps. The “Chongqing E-Shale Gas Pilot Pilot Test Area”, 400,000 square kilometers, set up 5 projects, and carried out shale gas survey in the Lower Yangtze area and regional shale gas research in the northern region, and established 3 for the first time. Demonstration profile (Longmaxi Formation), preferred favorable area, evaluation of resource potential; in 2011, the first round of bidding results of China's shale gas project was released.

After three years, a few days ago, the official information of the Ministry of Land and Resources showed that Sinopec and Henan CBM Development and Utilization Co., Ltd. failed to complete the commitment in the first batch of two shale gas tenders. The investment proportion of the survey was paid to the liquidated damages of about 8 million yuan and 6 million yuan respectively, and the area of ​​the exploration block was reduced. In this regard, some insiders believe that the above two companies "circle and not explore" are highlighting the embarrassing situation facing the development of shale gas in China.

Geological reasons, mining technology restrict China's development process

Although China's shale gas reserves are twice that of the United States, the mining situation is not optimistic. According to industry sources, domestic shale gas mining has been under high pressure. Sinopec previously revealed that the exploration cost of a well is about 83 million yuan, which is more than 50 million yuan more than the United States.

The reason for the high mining cost is that the geological conditions of shale gas distribution in China are complicated. Compared with the United States, China's shale gas distribution area is affected by special geotectonic location control and large faults and small plate size, and the damage is serious. Most of them belong to the multi-cycle superimposed basin, which causes the shale gas distribution area in China. The particularity of the project has increased the difficulty of mining.

In addition to geological reasons, mining technology is also one of the reasons for the high cost of mining. It is understood that the US shale gas well drilling mainly includes two methods: vertical well and horizontal well. The main purpose of the vertical well is to test, understand the characteristics of shale gas reservoirs, gain experience in drilling, fracturing and commissioning, and optimize the horizontal well drilling program. Horizontal wells are mainly used for production, and can obtain a larger reservoir discharge area and obtain higher natural gas production. However, China has not yet mastered the core technology of shale gas mining, which is imported from abroad and costs a lot of money.

U.S. experience cannot be replicated and private capital is required to enter

Li Yuyan, an analyst at Zhongyu Information, told the China Economic Net reporter that China’s “Twelfth Five-Year Plan” shows that by 2015, the proven geological reserves of shale gas resources will be 600 billion cubic meters, and the proven reserves will be 200 billion cubic meters. But the output is only 6.5 billion cubic meters, which is quite different from the United States.

In this regard, some insiders analyzed that the current status of shale gas mining in China is different from that in the United States. The United States is developing more than 10,000 small companies, the market is dominant, and China is policy-driven. Responsibility to face the project, or to make a contribution or a fund.

"Although China is being led by the national organization and coordination agency, integrating existing demonstration zones, building new demonstration zones, and cooperating with various agencies and scientific research units to coordinate with public relations. Building large-scale, large-scale, and large-scale construction of China's shale gas industry However, there are still problems in technology, experience, resource distribution constraints, etc. China still cannot fully replicate the successful experience of US shale gas. In the future, China needs to make breakthroughs in policy, and at the same time increase the entry of private capital and get out of ourselves. The shale gas road." Li Fengyan said.

Conclusion: The author has learned that the key technical equipment for the development of shale gas developed by China recently, the bridge plug, has been successfully applied in the shale gas mining in Fuling, Chongqing. Shandong Jerry Group has announced that its self-developed 4500-horsepower "Apollo" turbo fracturing truck is the world's single-machine maximum power fracturing truck. China has become the third turbine-fracturing equipment after the United States and Russia. country. This is undoubtedly good news for the development of shale gas in China. At present, China's shale gas development does face some difficulties, but the author believes that with the continuous breakthrough of core technologies and the entry of private capital, the output may double.

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