Pinghu

Pinghu Oil and Gas Field Profile

Location

The Pinghu Oil and Gas Field is located in the East China Sea, China, specifically on the East China Sea Shelf. The approximate coordinates are 28.487°N, 125.003°E.

Project Details

• Operator: The field is operated by the Shanghai Oil and Gas Operating Company Limited.
• Owners: The ownership is shared among Shenergy Group (40%), CNOOC Limited (30%), and Sinopec (30%).
• Discovery Year: The field was discovered in 1983.
• Production Start Year: Production began in 1998.

Reserves and Production

• Estimated Reserves:
  • Gas: Approximately 736.2 million cubic meters (as of 2010).
  • Oil: Approximately 2.4 million barrels (as of 2010).
• Production:
  • Oil: Around 0.53 million barrels per year (in 2009) and 0.52 million barrels per year (in 2006).
  • Gas: Approximately 4.12 million cubic meters per year (in 2009), with another report indicating 657 million cubic meters per year (in 2009).

Geology and Reservoir Characteristics

• Formation: The Pinghu Formation is characterized by low permeability sandstone reservoirs. The porosity of these reservoirs ranges from 3.6% to 18.0%, and the permeability is relatively low.
• Tectonic Influence: Strong fault activity during the sedimentary period of the Pinghu formation significantly influenced the development of the sedimentary system. The formation is affected by a tectonic transfer zone, which impacts the sand body enrichment patterns.
• Petrophysical Characteristics: The reservoirs in the Pinghu Formation have complex pore structures. The permeability and porosity are evaluated using geophysical well logging data, including NMR logging to characterize the pore structure and calculate key parameters such as irreducible water saturation.

Exploration and Development

• Seismic and Logging Data: Three-dimensional seismic and logging data are used to identify fault patterns and sand body enrichment sites. This includes studying the development type of fault transfer zones and using seismic inversion data to clarify the evolution of sedimentary facies.
• Imaging: Shanghai Petroleum Corp. (SPC) has deployed seismic imaging techniques, such as those using the Geco Searcher, to better understand the gas reservoirs within the Pinghu field.

Operational and Economic Aspects

• Partners: The project involves a partnership between Shenergy Group, CNOOC Limited, and Sinopec, reflecting a collaborative effort in the development and operation of the field.
• Economic Support: Research and development activities related to the Pinghu Formation have been supported by significant projects, including the National Science and Technology Major Project of China and the Science and Technology Project of CNOOC.