Current Position: Home > News > News Release

The Technological Innovation Achievements Made by Zhenhua Oil Entered the International High-end Oil and Gas Market Successfully

PublishTime:2021-04-26 Hits:1289

       Recently, ADNOC Onshore (the largest oil producer within the Abu Dhabi National Oil Company) awarded Zhenhua Oil contracts for two innovative technologies, namely “Fracture Modeling with Unstructured Grids” and “Intelligent Gel Agent for Drilling Losses Curing”. The contracts initiate the technology cooperation officially for both parties, which marks the Zhenhua Oil’s innovation-driven development has led to the breakthrough of "Go Abroad" and "Go In" to the high-end oil and gas markets in the Middle East.

Since becoming an international shareholder of ADNOC Onshore in 2018, Zhenhua Oil seized the historical opportunity to deepen its innovation-driven development and strengthen international cooperation while global oil and gas industry is facing the shift from resource and capital dominance to technology innovation dominance. In order to take full advantage of market opportunities to achieve ADNOC’s 2030 smart growth strategy, ADNOC Onshore closely collaborates with international shareholders through the 1st Shareholders Technology Workshop in June 2020. A total of 88 challenges were identified across 10 different programs.

Zhenhua Oil conduct an in-depth analysis on the difficulties and pain points in oilfield exploration and development, and put forward targeted technical solutions by integrating internal and external resources. By competing with multiple parties, a total of six technologies have been shore-listed of cooperation, ranking top among international shareholders.

In order to implement the follow-up promotion of technological cooperation, focal points for each specific technology have been assigned for both Zhenhua Oil and ADNOC Onshore. Based on current development and production demands of ADNOC Onshore’s oilfields, the advanced technological principles and future application prospect of Fracture Modeling with Unstructured Grids” and “Intelligent Gel Agent for Drilling Losses Curing” have been highlighted. The unique innovation, practicability and application cases of these two technologies in oilfields have impressed the senior management and responsible technical departments of ADNOC Onshore, making the Company stand out from the competition with many international oil companies and service providers, so that the Company took the lead to sign cooperation agreement with ADNOC Onshore and realize the implementation of application. The technological solutions proposed by Zhenhua Oil are also stepping into the high-end stage of the international oil and gas markets.