Recently, the Sichuan private enterprise Honghua Group, which did not directly participate in the bidding, entered the field of shale gas development in a way that cooperated with Shenhua Geological Exploration Co., Ltd. (hereinafter referred to as Shenhua Geological Exploration). At the same time, the US shale gas "great crocodile" Carrizo company is also eager to try, through the technical cooperation from the Chinese shale gas market to get a cup.
However, it is worth noting that there is a “virtual fire†component in the current shale gas exploration and development. The reporter learned that some enterprises have entered the shale gas across the border with more “painting pie†style of speculation. In some places, there are also signs of slamming up, staking, and speculating mineral rights, and come up with “real goldâ€. Silver is rarely invested in exploration and development.
Virtual fire
From nothing to "a glimpse"
On February 14, Sichuan Honghua Group, a well-known oil drilling rig manufacturer in China, announced the formal signing of a strategic cooperation framework agreement for unconventional natural gas exploration and development with Shenhua Geological Survey, a wholly-owned subsidiary of China Shenhua Group. According to the agreement, Shenhua Geological Survey will provide management and engineering costs during the cooperation process. Honghua Group provides operators and equipment, undertakes engineering construction, and is responsible for providing technical training and technical support for Shenhua Geological Survey.
For Honghua, this is undoubtedly a good opportunity for the “curve†to enter the field of shale gas development in China. In the second round of bidding for the shale gas that just ended, Shenhua Landmark successfully won the bid for the Baojing shale gas block in Hunan Province. The area of ​​the block reached 1189.72 square kilometers, and the total planned investment was about 870 million yuan. Honghua proposed to strive for sales of more than 10 billion yuan in 2013.
There are not a few companies that are betting shale gas like Honghua. Since 2011, the Ministry of Land and Resources has twice issued bidding methods for shale gas exploration. Under the attraction of good policies and favorable prospects, China has quickly set off shale gas “heatâ€, especially the second round of tenders. Nearly one hundred state-owned oil companies, as well as private enterprises, local state-owned enterprises and non-oil and gas central enterprises, participated in the competition.
However, this craze has more smashing, "painting pie" style of speculation. Take Huayin Power, which is controlled by Datang Group, as an example. In the first three quarters of 2012, the net profit loss was as high as 490 million yuan, facing the bad luck of ST. However, with the bidding of shale gas in the capital market, it has been a real fire for six consecutive days, with a cumulative increase of 46%. "For Huayin Power, which has a high asset-liability ratio in recent years, where does the huge amount of 2.7 billion yuan come from? The shale gas is more like a 'painting cake' for investors." Industry insiders questioned. In addition, Zhongtian Chengtou, which is mainly engaged in real estate business, announced that it had participated in the announcement of shale gas bidding, and the stock price rose.
Zhang Dawei, director of the Mineral Resources Reserve Evaluation Center of the Ministry of Land and Resources, stressed that the “virtual fire†in the development of the shale gas industry should be guarded against ignorance and irrational development. In his view, the current "hot" shale gas is only hot in the verbal, more meetings, more inspections, more articles, and really take out "real gold and silver" to invest in exploration and development. In terms of geological exploration investment, China's conventional oil and gas exploration has invested about 66 billion yuan per year, while the cumulative investment in shale gas survey and evaluation and exploration is less than 7 billion yuan. Compared with foreign countries, US shale gas only imported 22.7 billion US dollars of foreign capital from 2009 to 2010, and China's investment in shale gas field last year was less than 10 billion yuan, far from meeting demand.
The reporter saw on the list of successful bidders in the shale gas block last year that 19 companies did not engage in traditional oil and gas development experience such as oil and natural gas. Two of them were private enterprises, and four were established two or three months before the bidding. of. Ma Yongsheng, an academician of the Chinese Academy of Engineering, said that China's shale gas is deeply buried, mostly concentrated in the mountains and mountains, and it is difficult to mine. A shale gas well in the United States costs about $3 million, and China is three to five times more expensive than the United States.
risk
Foreign companies
At the same time that domestic enterprises are “smashing upâ€, foreign companies are also eager to try and gain a share of the shale gas market in China through technical cooperation.
Following the successful testing of China's shale gas industry by major international oil companies such as Shell, BP and ConocoPhillips, the US shale gas “great crocodile†Carrizo also turned its attention to the Chinese market. Its president and CEO, Johnson Chip, previously revealed that he hopes to participate in the development of shale gas in China, or will participate in the future domestic shale gas bidding with Hemo Technology, and may also use the practice of ConocoPhillips for the domestic shale gas area. The block owner provides exploration and development technical services such as drilling and data detection.
Wang Zhen, executive vice president of China Energy Strategy Research Institute, told reporters that China's shale gas reserves are abundant, and the government has continuously introduced encouraging support policies, which has allowed foreign companies with advanced exploration and development technologies to gradually reduce their profits. .
The reporter saw at the unconventional oil and gas summit hosted by China Energy Network in December last year that the "civil forum" attracted the energy department of the US Embassy, ​​the Beijing Office of the Natural Resources Protection Committee, and the Economic Department of the Polish Embassy. In addition, Halliburton, Suez Energy Group, Baker Hughes and many other companies participated in the meeting. They expressed their opinions, asked about policies, sought cooperation and were active.
It is understood that there are two main ways for foreign capital to enter China. One is to simply provide technical services, and the other is to undertake technical services and own oil and gas resources. The cooperation model between foreign companies and China in shale gas development can be divided into technical contracting and joint venture establishment.
Li Yuxi, a researcher at the Oil and Gas Resource Strategy Research Center of the Ministry of Land and Resources, believes that China can actively introduce foreign technology. In the early stage of shale gas exploration and development, it encourages cooperation with foreign experienced companies to introduce experimental tests, horizontal drilling, logging, cementing and Fracturing and other technologies are conducive to the development of shale gas in China. However, while encouraging the active use of foreign-invested technology, we must also be alert to excessive dependence on foreign companies.
Zhang Dawei also pointed out that foreign companies are encouraged to enter the equivalent of "market-for-technology" strategy, but be wary of "technology has not learned, the market is gone."
As an independent mineral, shale gas has not yet formulated relevant policies and regulations on cooperation with foreign companies. This has seriously affected the cooperation between Chinese and foreign companies in technical research, exploration and development. The Chinese company was unable to apply to the foreign exchange account of the foreign management bureau, and the foreign capital could not enter the Chinese enterprise account, resulting in some projects could not be carried out. There is no mature approval process for external cooperation in the field of shale gas, and the responsibility between departments is still unclear.
Zhou Dehua, a senior engineer at Sinopec's Unconventional Energy Division, said that the cooperation model between Sinopec and foreign companies is currently in the preliminary joint research stage. Foreign companies carry out geological survey work and bear all risks. The profit sharing of later products is agreed by agreement. At present, there are no mature and clear guidance opinions on policies and implementation rules related to external cooperation of shale gas in China. If the agreement between the two parties is inconsistent with the future policy of the government, it will lead to disputes. If the foreign company proposes international arbitration, the Chinese side will lose the case.
prospect
Unexplained investment value
Industry experts believe that shale gas is not only an important pillar of China's natural gas source in the future, but also a breakthrough to promote China's energy consumption structure adjustment and oil and gas system reform. The development of shale gas is of great significance in reducing China's external dependence on energy and enhancing the right to speak in international energy and geopolitics.
However, in an interview, the reporter found that despite the enthusiasm of the central enterprises, private enterprises and foreign companies in the bidding process of the two shale gas exploration rights that have already been held, the uncertainty of the economic value of shale gas investment is still the consensus in the industry.
The head of a private real estate company, Chen Xinzhong, told reporters that it is still unknown whether the investment in shale gas is a pie or a trap. "It is a difficult problem for us to win the bid. If you don't, you may miss out on the opportunity to transform into the energy industry. Once you win the bid, you will need a lot of capital investment in the later stage. It is difficult to say whether you can recover the investment in the future." It seems that investing in shale gas is still very risky for private enterprises.
Participating in the second bidding, another private enterprise told reporters that “the bidding blocks that are now being sold are outside the registered blocks of 'three barrels of oil', not only the blocks are small, but also the oil and gas storage conditions are not good, mining It is difficult. The central enterprise circle occupies high-quality resources and does not develop, but mainly mines conventional natural oil and gas resources.†In his view, such a situation is not conducive to shale gas development, “should be part of the quality of the three major oil and gas fields. The shale gas resources are taken out."
The person told reporters that private capital has entered the shale gas market. "The bottom line of the heart is to wait for mining, and there is no guarantee of income distribution. The state needs to further break the monopoly from the system."
Wang Xiangzeng, chief geologist of Yanchang Petroleum Group, is worried that there are companies investing in speculative speculation. He believes that some listed companies do not own shale gas exploration and development technology, and after the block is either transferred or imported, these are foreign capital. Behavior will affect the presence of truly powerful companies in the shale gas market.
Zhang Kang, a professor at the Sinopec Petroleum Exploration and Development Research Institute, pointed out that the “three barrels of oil†has been registered in the block, many of which have long-term input of less work, the land is idle, and the supervision is not in place. The shale gas tender block currently drawn is not an ideal constituency for non-oil companies that are just starting a business. How to promote oil state-owned enterprises to increase investment in the block is an urgent problem to be solved.
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Model No.
Diameter
(mm)
Max. flow rate
(kg/min)
MWP.
(MPa)
Accuracy grade
(%)
Zero stability
(kg/h)
CG-03
03
6
4
0.1/ 0.2/ 0.5
0.012
CG-06
06
18
4
0.1/ 0.2/ 0.5
0.04
CG-15
15
50
25
0.1/ 0.2/ 0.5
0.12
CNG-20
20
120
25
0.1/ 0.2/ 0.5
0.36
CG-25
25
200
4
0.1/ 0.2/ 0.5
0.62
CG-40
40
500
4
0.1/ 0.2/ 0.5
1.60
CG-50
50
1000
4
0.1/ 0.2/ 0.5
2.38
CG-80
80
3000
4
0.1/ 0.2/ 0.5
7.05
CG-100
100
3600
4
0.1/ 0.2/ 0.5
12.00
CG-150
150
8000
4
0.1/ 0.2/ 0.5
50.00
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