On July 22^nd, Mr. Li Shiguang, President of ZPEC Group, led the entire fifth-phase Young and Middle-aged Management Training Class, currently undergoing training at China University of Petroleum (Beijing), on a special study and exchange visit to Beijing Xinhuaxia International Energy Development Co., Ltd. This visit strictly aligns with the Group's "Two Major Campaigns and Four Major Strategic Initiatives " work deployment. It focuses on the core business areas including upstream oil and gas transformation, domestic and international project operations, and exploration-development integration. Through special lectures, Q&A sessions, and seminars, participants learned cutting-edge industry concepts and practical experience, further broadening the horizons of young managers, renewing their management thinking, and consolidating their professional capabilities.

In his opening remarks, President Li Shiguang noted that the Fifth-Phase Young and Middle-aged Management Training Program represents a key training initiative built upon the Group's strategic opportunities of "Major Transformation, Major Adjustment, and Major Development," and serves as the inaugural measure in the Group's series of talent development programs. He urged all trainees to seize this visit to Xinhuaxia as an opportunity to strictly implement the Chairman's requirements for training, comprehensively renew their ideological recognition, refine management capabilities, and enhance operational expertise. He emphasized the importance of firmly setting the developmental goal of benchmarking against world-class international energy enterprises, solidly establishing the concepts of full lifecycle oilfield management and "major owner" business thinking, and completely breaking free from the entrenched mindset of a traditional drilling contractor. This results in truly achieving the evolutionary capability from "knowing how to drill wells" to "knowing how to manage oilfields." He encouraged everyone to closely focus on the Group's central tasks of the "Two Major Campaigns and Four Major Strategic Initiatives", grounded in their respective job responsibilities, to diligently study and engage in thorough exchanges during this visit, transforming the practical experience gained on-site into concrete measures for fulfilling their duties, thereby injecting strong momentum into the high-quality development of the Group's upstream core business.

Mr. Zhou Haimin, Chairman of Xinhuaxia, delivered a thematic lecture to the trainees. By closely following the theme of this study visit, his lecture traced the complete development trajectory of ZPEC's upstream business. He systematically outlined the practical pathways of upstream transformation and clarified the core development logic of the oil and gas industry, using case studies from the exploration and development of the Group's six major oil and gas fields both domestically and internationally. From a geological exploration professional perspective, the lecture precisely corrected common cognitive misconceptions in project assessment and oilfield operations. He emphasized the core principles of adhering to geological realities, matching appropriate development technologies, and prioritizing profitability, and provided a detailed interpretation of the Group's oil and gas asset screening criteria and the five core principles for overseas project acquisitions. The lecture deeply elaborated on the integrated exploration-development model and the full-industry-chain collaborative operation model, conducting in-depth analyses on the integration and linkage of various business segments, while firmly establishing a management philosophy prioritizing whole-process quality control. Through step-by-step reviews of the full-process practical operations of key blocks, including Wensu, Costal, Tenger, Iraq EBN, Iraq MF, and Algeria Zerafa Phase II, the lecture summarized practical experience across the entire chain of exploration, production capacity construction, and stable production. It formulated differentiated development and implementation strategies for different geological conditions and guided young managers to respect the objective laws of the oil and gas industry and advance all operational and development work pragmatically based on geological foundations. The lecture content closely matched the Group's current strategic initiatives, providing detailed reference material for participants to transform their business thinking and enhance their overall oilfield management capabilities. Several senior experts in the oil and gas exploration field attended the lecture throughout, simultaneously sharing professional experience on practical topics such as secondary recovery in mature oilfields and comprehensive evaluation of overseas blocks.

At the event, Mr. Li Xu, General Manager of ZPEC Iraq Branch, shared his reflections on the study visit as a trainee representative. He stated that the study visit was substantial and practical, yielding significant gains. Through systematic learning of practical exploration and development experience from various overseas blocks, it clarified practical approaches for coordinating Iraq Branch drilling support and oilfield collaborative operations, further broadening the operational perspective of integrated overseas project management.

Following the lecture, participants raised concentrated questions on frontline challenges including exploration geology, drilling engineering, overseas contracts, economic evaluation, and localization management. Mr. Zhou Haimin addressed each question one by one with reference to the Group's project case studies, providing systematic and comprehensive answers.

(Reported by Hao Donglei and Qu Qilei)