Sinopec Masters Sinomacs ATS I Steerable Drilling System with Major Breakthrough in SLOF Oil Field

BEIJING,Dec. 27,2019 -- China Petroleum & Chemical Corporation ("Sinopec" or the "Company") (HKEX: 386; SSE: 600028; NYSE: SNP) has announced a significant breakthrough as its self-developed Sinomacs ATS I type rotary steerable drilling system drilled to a depth of 857 meters after working 141 hours non-stop from December 13 to 19 in an oil well in SLOF (Shengli Oil Field),Shandong Province.

Sinopec Masters Sinomacs ATS I Steerable Drilling System with Major Breakthrough in SLOF Oil Field

The build-up rate of Sinomacs ATS I reached a maximum of 6.6 degrees per 30 meters,the overall performance was commented by notable drilling rig technology expert Liu Rushan as "landmark results that solved the problems associated with traditional rotary drilling systems."

The steerable rotary drilling system is the farsighted and fleet-footed assistant of the drill that enables faster drilling in underground gas and oil reservoirs at a lower cost. It's the preferred technology of petroleum companies to complete horizontal well drilling due to its ability to hit targets every time according to the designed track accurately.

More than 40 percent of the directional wells in the world are implementing this system,but it's an immensely difficult technology to develop due to a large number of fields involved in the R&D process.

The Sinopec R&D team started from scratch with a design principle and calculation born from countless experiments,tests and stimulations on the mechanical components,electronics and software. The first static push-type steerable rotary drilling system was created in December 2012.

One year later,Sinopec's steerable rotary drilling system marked continuous success across four modules of ground monitoring,two-way communication,MWD and downhole steering control in field tests.

Since 1999,Sinopec has researched and developed the steerable rotary drilling system independently. After 20 years,it has finally become a complete technology and equipment system with proprietary intellectual property rights.

"Even when the petroleum market was slow,Sinopec invested tremendous resources in ensuring the R&D of the steerable rotary drilling system," said Chen Xikun,vice chairman and executive director of Sinopec Oilfield Service Corporation.

"Sinopec will continue to develop and promoting the application of the steerable rotary drilling system to mass-produce the technology in the future so that Sinopec's gas and oil services will move towards the path of high-end and professional development."

About Sinopec Corp.

Sinopec Corp. is one of the largest integrated energy and chemical companies in China. Its principal operations include the exploration,production,transportation and sale of petroleum and natural gas,petrochemical and coal chemical products,synthetic fiber,fertilizer and other chemical products,as well as other commodities and technologies. In addition,Sinopec is engaged in the research,development and application of energy technologies.

With a corporate mission of "fueling beautiful life," Sinopec pursues strategies of value-orientation,innovation-driven development,integrated resource allocation,open cooperation and green and low-carbon growth to build a world-leading energy and chemical company.

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