Yao Yi, Director of the Planning Division of the Ministry of Industry and Information Technology stated that the next five years will be a strategic opportunity period for China’s oil and gas industry. There are five key development directions for high-end petrochemical equipment manufacturing. At present, China's oil and gas industry presents four major characteristics. First, oil consumption will continue to grow slowly. It is expected that the total consumption in 2015 will reach 540 million tons of oil equivalent, accounting for 18.4% of the total energy demand. Secondly, the trend of large-scale installations is even more pronounced. The average size of refineries in China exceeds 6 million tons/year, and the average size of ethylene plants on the petroleum routes exceeds 700,000 tons/year. Third, the rapid increase in natural gas consumer demand, natural gas consumption will reach 1920 billion cubic meters, accounting for 6.1% of total energy demand. Fourth, the accelerated development of marine oil and gas resources will be an important source of China's oil and gas consumption increase.
In the next five years, China will have five major development directions for oil and gas equipment manufacturing, namely, intelligent drilling systems, 10 million tons of oil refining, 1 million tons of ethylene equipment, natural gas (shale gas) exploration and development equipment, deep sea oil and gas resources development equipment, and oil and gas resources. Gathering equipment. During the “Twelfth Five-Year Plan†period, there is only one marine oil and gas equipment with a market size of approximately RMB 90 billion to RMB 120 billion, with an annual average of RMB 25 billion to 30 billion.
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