On March 16, the groundbreaking ceremony for the 2025 SMART OIL Production Capacity Project took place at Well 955567 in Karamay, marking Beiken Energy's first operational well in Xinjiang for 2025. Hu Xiaokun, Deputy Chief Engineer of SMART OIL (Karamay)INVESTMENT LTD. attended and addressed the ceremony.
In his speech, Hu acknowledged Beiken Energy as a regional industry leader and urged the company to leverage its strengths in safety management and technical expertise to enhance efficiency while supporting SMART OIL's 2025 production targets.
For 2025, SMART OIL plans 105 wells across the Jiujiu 1-5 cooperative zone in Xinjiang. To achieve this goal, Beiken has formed a dedicated project team that will apply its decade-long technical expertise in the Xinjiang oilfields. The team aims to optimize operational quality and drilling efficiency under client guidance, contributing to increased oil output.
The Jiujiu 1-5 zone operates under a 30-year production sharing contract signed in 2019 between SMART OIL (Karamay)INVESTMENT LTD. (an overseas subsidiary of SINO GEOPHYSICAL CO., LTD) and PetroChina, designating SMART OIL as the block's operator.
As a company rooted in Xinjiang, Beiken reiterated its commitment to a customer-first approach, long-term commitment, and win-win partnerships. By deploying advanced management systems and proprietary technologies, Beiken will continue supporting Xinjiang's oil and gas industry development, aligning with regional energy modernization goals.