Chinese service company Kerui interested in establishing joint ventures in Russia for oil equipment, engineering, technologies
MOSCOW. May 15 (Interfax) - Chinese service company Kerui is interested in establishing joint ventures in Russia focused on equipment, engineering and technologies in the oil and gas sector, Yang Guangkai, the technical director of Kerui Group, said at the session Technological Leadership as an Opportunity for Rational Development of Oil and Gas Fields during the 16th Russia - Islamic World: KazanForum International Economic Forum on Thursday.
"We are ready to strengthen our cooperation with Russian universities. The strength of the Chinese side lies in engineering and technological approaches, while the strength of our Russian counterpart lies in scientific achievements. In terms of technologies, we are particularly interested in reservoir modeling using artificial intelligence; highly efficient gas drive technologies, where oil is displaced with gas, and a new generation of fracturing fluids," he said.
"Together with Russian universities, we intend to involve graduates in this work so that Chinese partners can build their own enterprises in Russia, and these enterprises can be serviced by locally trained personnel. We will strengthen cooperation with Russian universities and industrial enterprises. We want to incubate industrial projects in oil equipment manufacturing, engineering and digital solutions through joint ventures. We are also interested in technology licensing," Guangkai said.
The company is primarily interested in cooperation for the development of hard-to-recover reserves, he said. "We have already been working for several months with the geology department of Kazan University and jointly created a Center for Enhanced Oil Recovery Technologies. This center is engaged in developing economically efficient and environmentally safe solutions for increasing oil recovery. In particular, we are working on an alternative gas and foam injection method, where a gas cap is artificially created to displace oil. At the same time, gas dissolution reduces oil viscosity. This and other studies show that our approaches can increase oil recovery from 8% to 12%," he said.
"Thanks to these initiatives, we will be able to contribute to the development of local oil and gas clusters and the prosperity of both Chinese and Russian oil and gas companies. From the permafrost of Western Siberia to the deep waters of the South China Sea, from laboratories in Kazan to drilling platforms in Xinjiang, the prospects for Chinese-Russian energy cooperation are extremely broad and promising. We are convinced that the deep connection between universities, research creativity, and engineering excellence will be the spark that inspires us to innovate in the future," he said.
Kerui has been operating in Russia for more than 10 years, providing technological services for the oil and gas sector and supplying hydrocarbon production equipment, he said.
Kerui is one of China's leading service companies and operates in more than 50 countries worldwide.