According to toubao Research Institute, Chinas shale gas production increased from 1.3 billion cubic meters in 2014 to 10.29 billion cubic meters in 2018, with a compound annual growth rate of 67.7%. Under the favorable environment of national macro policy support, more prosperous downstream application prospects and continuous technological innovation, it is expected to reach 108.74 billion cubic meters by 2023.
The companys main business is oil and gas field equipment and technical engineering services. The worlds first single machine single pump 7000 horsepower electric drive fracturing skid is equipped with the worlds largest power 7000 horsepower fracturing plunger pump, which can replace 2-3 conventional 2500 fracturing equipment in shale gas field.
Petrochemical Machinery (000852) Co., Ltd. innovated and developed a complete set of ultra-high pressure and high-power electric fracturing equipment, formed a complete set of electric fracturing equipment application technology and power supply and distribution scheme, and realized the first fracturing construction of 100% electric drive and skid mounted from main pressure equipment to auxiliary equipment in domestic oil and gas well fracturing, providing experience and reference for shale gas efficient, green and intelligent fracturing.