Since the beginning of the year, Daqing Drilling Company has focused on the "Hundred-Billion-Yuan Output and Efficiency Enhancement Project", launching five major battles: transforming concepts, deepening reforms, marketing, strengthening the enterprise, and improving management. In the first quarter of this year, the company's cumulative number of completed wells and footage increased by 12.4% and 14.3% respectively compared to the same period last year.
Facing complex situations such as deep, non-conventional, and old fields, Daqing Drilling has promoted engineering and technical service cooperation models such as "integration of the client and contractor, integration of geology and engineering, integration of investment and cost, and integration of construction, production, and operation and maintenance". It has focused on addressing challenges such as tapping potential in old wells and old areas, enhancing recovery rates, and developing difficult-to-access reserves in new areas. It has strengthened the intensive management and scientific allocation of resources, and driven production factors towards high efficiency, high value, and high quality areas. As of March 31, Daqing Drilling had 163 drilling rigs in operation, and its cementing, logging, fracturing, and well testing businesses were advancing at a high quality.
In terms of marketing, the International Business Division of Daqing Drilling has strengthened risk identification for overseas projects, established a safety upgrade control list and a joint defense mechanism, and continuously enhanced the security system and emergency drills. At the same time, it has improved on-site operation management, promoted the three-level budget management and cost control model, and ensured the safe and stable operation of overseas projects.