Proven undeveloped reserves (PUDs) refers to discovered proven reserves that are difficult to develop, require high costs for production, have low commercial value or are temporarily not put into commercial developmen...Proven undeveloped reserves (PUDs) refers to discovered proven reserves that are difficult to develop, require high costs for production, have low commercial value or are temporarily not put into commercial development under the existing technological and economic conditions. Sinopec’s PUDs are dominated by deep-and ultra-deep reservoirs with ultra-low permeability, high-density, low-pressure coefficient and low abundance. These oil reservoirs have narrow storage space and complex storage status, leading to difficulties in predicting effective reservoirs, low single-well production, high production cost and difficulties in benefit generation. Since the “13th Five-year Plan” period, Sinopec’s upstream sector in China has taken the effective development of PUDs as an important measure to ensure national energy security. It has made every effort to promote innovation, cost reduction and reform to generate benefits, made a series of new technological progress and management achievements, and effectively revitalized a batch of resources.展开更多
文摘Proven undeveloped reserves (PUDs) refers to discovered proven reserves that are difficult to develop, require high costs for production, have low commercial value or are temporarily not put into commercial development under the existing technological and economic conditions. Sinopec’s PUDs are dominated by deep-and ultra-deep reservoirs with ultra-low permeability, high-density, low-pressure coefficient and low abundance. These oil reservoirs have narrow storage space and complex storage status, leading to difficulties in predicting effective reservoirs, low single-well production, high production cost and difficulties in benefit generation. Since the “13th Five-year Plan” period, Sinopec’s upstream sector in China has taken the effective development of PUDs as an important measure to ensure national energy security. It has made every effort to promote innovation, cost reduction and reform to generate benefits, made a series of new technological progress and management achievements, and effectively revitalized a batch of resources.
