In the face of the severe challenges brought by the continuous decline of international oil prices and deterioration of resource quality, Jilin Oilfield Company has comprehensively promoted the project of increasing revenue and reducing expenditures and has achieved steady growth during the 13th Five-Year Plan (2016-2020) period. Over the past five years, the company has made 1,400 innovation achievements, solved 420 production problems and achieved returns of over 100 million yuan.
A total of 392 innovation results of teams have been promoted and applied by Jilin Oilfield, with returns of 6.05 million yuan. In the past five years, over 400 innovative workers have emerged, with the title of "Innovation Pacesetter of Jilin Province", "Innovation Expert of Jilin Province", etc.
Meanwhile, Jilin Oilfield has carried out more than 480 projects and subject research & promotion, made 30 key technical achievements and 6 breakthrough achievements and obtained 150 million yuan of economic returns through promotion and application. A total of 174 platforms have been launched and implemented by Jilin Oilfield, with a production capacity of 338,000 tons.
In 2020, 21 exploratory wells were drilled by Jilin Oilfield, with a total drilling footage of 74,500 meters. The oil test acquisition rate was 66 percent, and the success rate of exploratory wells was 73 percent, higher than the assessment indexes of 35 percent and 40 percent respectively. The company found two beneficial blocks with reserves of 2 million tons, greatly reducing the exploration cost and improving the exploration effect. The forecast reserves and proved reserves of new oil and natural gas exceeded expectations.