On March 7, Mr. Niu Shuanwen, Vice President, Sinopec Group, and Senior Vice President, Sinopec Corp., visited Sinopec Star’s geothermal businesses in Xiong’an New Area. During his stay, Mr. Niu visited the Comprehensive Energy Station of the Xiong’an New Area Sci-Tech Innovation Center Pilot Test Base, the “Massive Production, Transmission and Reinjection” Xiong’an High-Speed Rail Project, and SGE’s Geothermal IDH Control Center, and gained a detailed understanding of geothermal business development, key projects, HSE, and digitalized maintenance and operations. Mr. Sun Huanquan, Academician of the Chinese Academy of Engineering and Chief Engineer of Sinopec Corp., Mr. Guo Xusheng, Academician of the Chinese Academy of Engineering and Chief Geologist of Sinopec Corp., and Mr. Zhang Yu, Vice President of the Oilfield Exploration and Development Department joined the visit.
During the meeting, Mr. Liu Shiliang, Executive Director of Sinopec Star, reported on the Sinopec Star’s overall geothermal business, key work, and target for 2024. Mr. Niu highlighted that geothermal business is a vital component of Sinopec’s future industrial strategy. He emphasized that Sinopec Star must aim to become a world-class company by building excellence in six areas: talent, technology, equipment, products, branding, and management, strengthen the company’s ability to integrate the industrial chain and enhance core competitiveness to take a lead in the geothermal industry.
Mr. Niu required that Sinopec Star shall continue expanding the geothermal business, focus on both domestic and international markets, consolidate position in the northern geothermal market, and also explore opportunities in southern regions to achieve market expansion.
Mr. Niu further stressed the importance of aligning the company’s planning with the “15th Five-Year Plan” and 2024 work agenda. He emphasized the company to focus on key priorities, including new project development, preliminary research, consortium creation, applications for national key laboratories, and the establishment of a New Energy Research Institute.
Representatives from Sinopec Group’s Comprehensive Management Department and the Oilfield Exploration and Development Department, along with Sinopec Star’s Deputy Chief Economist and Head of the Development and Planning Department attended the meeting.