On March 29, 2017, Yanchang Petroleum and the Global Carbon Capture and Storage Research Institute held a meeting in Xi’an, Shaanxi, to summarize the achievements of their CCUS project and discuss future cooperation. Our company’s general manager was invited to attend.

  It is understood that Yanchang Petroleum Group and the Global Carbon Capture and Storage Research Institute signed an agreement in 2013 for the Sino-Australian Integrated International Demonstration Project on Carbon Capture and Storage. The project primarily aims to more effectively reduce carbon dioxide emissions in the coal chemical and petrochemical industries. Through technological research, development, and innovation, it has now completed the capture, enhanced oil recovery, and storage of carbon dioxide in the coal chemical industry. It has also had a significant impact on the petrochemical industry, having completed the measurement, monitoring, and verification of geological carbon dioxide storage in oil reservoirs. An industrial-scale CO₂ separation and purification facility with a capacity of 5kt/a has now been constructed. Monitoring of the surface, atmosphere, and production wells indicates that there is absolutely no possibility of leakage from the CO₂ injected during the pilot phase of the project, confirming that the CO₂ is fully in a state of dynamic sequestration.

  The successful completion of the China-Australia CCUS cooperation project meets international environmental protection requirements and has undoubtedly generated significant economic benefits for the global community. At the same time, through this Sino-Australian collaboration, Yanchang Petroleum’s carbon capture, utilization, and storage (CCUS) technology has reached the international forefront. Our General Manager, Mr. Shen, stated that he was honored to participate in this conference and gained much from it. In response to the call for CCUS, our company will continue to innovate and develop the next-generation chemical absorption carbon capture technology jointly developed by our company and the Institute of Thermal Energy at Zhejiang University, with the aim of establishing a benchmark demonstration project as soon as possible.