On September 8th, major projects in Jingzhou City in the third quarter were intensively commenced, with a total investment of 15.3 billion yuan for 44 projects above billion yuan. Jingzhou Jiahua Technology Co., Ltd. has invested 1.05 billion yuan in the construction of 200000 tons of oilfield chemical products annually, making it the largest investment project under centralized construction.

Jiahua Technology is a high-tech enterprise in Jingzhou Development Zone. Its main products cover multiple fields of oilfield chemistry, including drilling fluid, completion fluid, cementing cement slurry, reservoir protection fluid, and oilfield stimulation fluid. It has 21 invention patents, 5 utility model patents, and 64 invention patents have been accepted. The "South China Sea High Temperature and High Pressure Drilling and Completion Key Technology and Industrial Application" jointly developed by the company and Changjiang University has won the first prize of the National Science and Technology Progress Award, the "Shale Gas Development Oil-based Drilling Fluid and Cementing Cement Slurry" developed by the company's research and development team has won the second prize of the Hubei Provincial Science and Technology Invention Award, and the "Research and Application of Excellent and Fast Drilling Technology for Horizontal Well Cluster in Fuling Shale Gas Field" developed by the company's research and development team has won the first prize of the Chongqing Municipal Science and Technology Progress Award. The invention patent "an oil based drilling fluid for shale gas development and drilling" won the gold medal in the Hubei High Value Patent Competition in 2020, and this year it again won the "First Hubei Patent Award Gold Award".

Xu Mingbiao, Chairman of Jingzhou Jiahua Technology, introduced that the company continues to rank first in China in terms of oil and gas drilling and completion fluids and cement slurry technology, and has long led domestic technological progress and development in the field of oil based drilling fluids for unconventional shale gas development, addressing the high difficulty requirements under different complex operating conditions in many domestic oil and gas development operations. Recently, the water-based drilling fluid technology developed by the company to replace oil with water for shale gas development and extended reach well operations has achieved great success in field application, overturning the long-standing industry practice that water-based drilling fluids cannot replace oil-based drilling fluids for efficient operations in shale gas development, with excellent performance. The resulting derivative technologies and products not only drive a significant increase in Jiahua's production and sales, promote the green development of unconventional oil and gas in China, but also are expected to help break an industry record for extended reach well operations.

In order to improve the company's product development and production capacity, and create an internationally advanced research oriented oilfield application new material enterprise, Jiahua Technology has acquired 284 mu of land in Jingzhou Development Zone, with an investment of 1.05 billion yuan, to build a "production, education, and research" base for oilfield application new materials. After the project is completed and put into operation, it is expected to achieve an annual output value of 1 billion yuan and tax revenue of over 100 million yuan.

The construction of the new project of Jiahua Technology will undoubtedly add new and strong competitiveness to the Jingzhou petroleum machinery industry. Jingzhou Petroleum Machinery Industry Cluster is a key industrial cluster in the province, with over 60 backbone enterprises, over 200 outsourcing enterprises, and over 20000 industrial workers. It produces more than 400 varieties of 10 series of drilling and workover equipment, cementing and fracturing equipment, and high-pressure fluid control components, and is sold to North America, the Middle East, Southeast Asia, and other regions. It has become a national petroleum equipment manufacturing base.