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

The Chairman of China National Petroleum Corporation, Dai Houliang, proposed at the 2025 Oil and Gas Exploration Annual Conference to implement a stable reserve-to-production ratio project and a ballast project to improve recovery rates, ensuring that the reserve-to-production ratio remains at the 2025 level and promoting high-quality development of oil and gas exploration and development. At the same time, it is necessary to increase the proportion of new discoveries in the expansion area and tackle unconventional resource exploration to ensure the stability of the reserve-to-production ratio through quality reserve increases