On June 30^th, the Emergency Management Department of Xinjiang organized the Urumqi autonomous region’s first 2020 Oil and Gas Reserve Safety Risk Meeting. The meeting discussed and made arrangements for the risk management and control issues of oil and gas exploration companies. ZPEC Group Chairman Chundi Li attended the meeting and delivered a speech as a representative of the only private enterprise.

The meeting was hosted by the Xinjiang Emergency Management Office. Jianguang Xue, Deputy Director of the Emergency Management Office, Wenqi Li, Director of the Basic Department, the heads of various offices of the Emergency Management Office, and representatives of the Xinjiang Emergency Management Bureau attended the meeting. The participating companies’ representatives were mainly from PetroChina, Sinopec, and ZPEC.

At the meeting, representatives of Aksu Regional Emergency Management Bureau, PetroChina Xinjiang Oilfield Branch, PetroChina Tarim Oilfield Branch, and Sinopec Northwest Oilfield Branch spoke successively. Group Chairman Chundi Li spoke on the research and assessment of safety risks in oil and gas exploration and development. He first briefly introduced the oil and gas exploration projects of ZPEC in the Aksu Wensu Block, and analyzed the risks of local exploration and development from seven aspects including: the safety production responsibility system, advancing the construction of a dual prevention system, improving emergency management procedures, actively carrying out safety training for all employees, and the positive progress made in risk control, etc.

After the meeting, President Li and the personnel in charge of the Xinjiang Emergency Management Department exchanged ideas on oil and gas exploration and development projects under the new situation. He said that in the future, Xinjiang will allow more private enterprises to enter, and the oil and gas exploration market will surely usher in a broader development platform. He expressed hope that ZPEC would continue to demonstrate its strength in safety management and efficient development.

ZPEC is the first private enterprise to win a bid in the national oil and gas reform pilot exploration block, bidding in early 2018. The Group takes advantage of the integration of drilling engineering, equipment manufacturing, and exploration and development. The advantages of integration have created the extremely rare “breakthrough in one year, production in two years, and commissioning in three years” in oil and gas industry. As of June 30^th, a total of 35 wells had been drilled and 33 wells were delivered, with a daily crude oil production capacity of about 180 tons.