PetroChina Group: Continuously increase the proportion of newly discovered reserves from expansion and focus on tackling unconventional resource exploration

Dai Houliang, Chairman and Party Secretary of China National Petroleum Corporation, attended the 2025 Oil and Gas Exploration Annual Conference held yesterday (16th) and put forward requirements. During the "14th Five-Year Plan" and the following period, it is necessary to vigorously implement the major strategic tasks of the "Stability Project for the Ratio of Reserves to Production" and the "Ballast Project for Increasing Recovery Rate," making every effort to ensure that the reserves-to-production ratio remains stable at the 2025 level during the "14th Five-Year Plan" period, and to promote high-quality development of oil and gas exploration and development business.

At the same time, it is essential to adhere to efficient exploration and quality reserve increase, focus on conventional resource exploration, continuously increase the proportion of new discoveries in expanded areas, concentrate efforts on unconventional resource exploration, and play a strict gatekeeping role in the reserves center to ensure the stability of the reserves-to-production ratio through quality reserve increases