Huabei Oilfield crude oil cumulative production exceeded 1 million tons this year

As of March 10, the North China Oilfield’s crude oil production this year has exceeded 1 million tons, achieving steady growth. In 2025, the SEC reserve replacement rate at North China Oilfield has maintained above 1 for the fifth consecutive year, with the reserve-to-production ratio remaining stable at a healthy 10.8.

The group’s 2026 work conference proposed making high-level reserve-production balance an important foundational project, ensuring stable reserves and production through high-quality reserve increases. North China Oilfield thoroughly implements the “reserve first, production later” philosophy, incorporating the stable reserve-to-production ratio into the annual “Top Ten Key Projects,” to ensure a stable supply of oil and gas resources and efficient development, effectively securing the energy supply.

Strengthen resource foundation and maintain the stable reserve-to-production ratio as the core. In recent years, North China Oilfield has focused on increasing economically recoverable reserves, intensifying exploration in new areas. Among them, the Bayannur Oilfield has added millions of tons of SEC reserves. This year, the exploration system will continue to innovate geological understanding of old areas and exploration restricted zones, increase risk exploration in new basins, new zones, new formations, and new types of “four new” fields, striving to expand total SEC reserves.

Enhance technological breakthroughs to activate the core driving force for reserve-production balance. The development system at North China Oilfield ensures high-quality development through high-standard plans, deepening comprehensive management of old areas via detailed reservoir description and restructured well networks, promoting correction and rolling expansion of reserves in old areas, laying a solid foundation for SEC reserve growth.

Highlight value-driven approaches and establish an SEC reserve management mechanism that integrates industry and finance. North China Oilfield will include maintaining a stable reserve-to-production ratio into key performance indicators, integrating it into the entire business chain, so that every reserve translates into tangible benefits.

【Source: China Petroleum News】