China Petroleum & Chemical Corporation (Sinopec) has completed drilling of Yuanshen-1 risk exploration well in the Sichuan Basin, China.

With the drilling, the Chinese firm set new vertical well depth record of 8,866m in the Sichuan Basin. The basin’s previous deepest record was set by Sinopec’s Rentan-1 well.

Following the drilling, which forms part of Sinopec’s “Project Deep Earth”, the Yuanshen-1 well has reached the deepest oil and Gas formation in burial depth in the Sichuan Basin.

The work further confirms the deep ancient carbonate rocks’ great potential in the region, Sinopec said.

During the exploration, the ultra-deep carbonate rock, which is buried at a depth of over 8,700m, showed presence of hydrocarbon in the porous reservoir.

In the Sichuan Basin, Sinopec has advanced deep hydrocarbon exploration including conventional gas in deep marine carbonate rocks and deep shale gas.

Sinopec said its deep natural gas resources in areas with mineral rights in the Sichuan Basin have reached 15 trillion cubic meters, so far.

The firm’s conventional gas production capacity from deep marine carbonate reservoirs has surpassed 12 billion cubic meters annually.

Furthermore, Sinopec collaborated with Sinopec Exploration Company, Sinopec Southwest Oil & Gas Company, SINOPEC Zhongyuan Oilfield Company, Sinopec Jianghan Oilfield Company and Sinopec East China Oil & Gas Company to unveil the “Project Deep Earth – Natural Gas Base in Sichuan and Chongqing”.

This marks third “Project Deep Earth” base for Sinopec following the Shunbei Oilfield and Jiyang Shale Oil bases.