Huibopu Successfully Signed China's First Million ton CCUS Project Subcontracting Contract

In November 2021, HBP officially signed a subcontract with the owner for the liquefaction and purification unit of the 1 million ton/year carbon dioxide recycling project. HBP provided the owner with the design, supply, commissioning, and production of the entire process package for the project.

This project is the first million ton CCUS project in China, and our company is responsible for the process package design. The main process is to capture the CO2 generated by the tail gas of the device, compress, dry, liquefy, and store it, and then transport it to the oil field through tank trucks for oil displacement and storage. Ultimately, it not only increases the formation pressure and single well oil production, but also achieves zero carbon dioxide emissions. After completion, this project will become the largest CCUS full industry chain demonstration base in China, with significant strategic significance. Calculated based on a million ton CCUS, it can reduce carbon dioxide emissions by 1 million tons per year, equivalent to planting nearly 9 million trees (covering an area of approximately 90 million square meters and 135000 acres of land); Equivalent to the total carbon dioxide emissions of 600000 economy cars per year.

In the era of green circular economy development under the dual carbon goal, the company actively changes the development concept and development mode, and constantly strengthens its own strength in this field through a series of technological innovation, management innovation and other measures around carbon neutral related technologies and business fields, making carbon neutral business an important business field for the company's long-term sustainable development.

CCUS (CO2 Capture, Utilization, and Storage) technology is the only technology in achieving emission reduction goals that can directly reduce carbon emissions in key areas while also reducing existing CO2 concentrations to balance unavoidable carbon emissions. China has large Oil in place suitable for carbon dioxide oil displacement. Accelerating the development of CCUS industry will provide support for national energy security and promote low-carbon transformation of fossil energy industry. As an essential technological path for carbon neutrality, CCUS has enormous potential for emission reduction and broad prospects for industrial utilization.

As an international comprehensive solution provider for the development and utilization of oil and gas resources, the company has been committed to providing efficient and clean energy and energy production methods to global customers since its establishment. In the past decade, we have achieved leapfrog development in talent, technology, and equipment for carbon dioxide capture and recycling, playing a leading role in the industry and successfully undertaking multiple domestic and foreign engineering and equipment manufacturing projects. In 2010, the surface engineering of CO2 injection to improve oil recovery in Daqing Hulunbuir Oilfield was completed; In 2012, the No.1 and No.2 CO2 flooding injection stations in Qiaojiawa oil field of Shaanxi Jingbian Oil Production Plant were completed; In 2016, the natural gas decarbonization and CO2 recovery and utilization project of Gaoshangbao Oil and Gas Treatment Plant in Jidong Oilfield was completed; In 2019, the carbon dioxide treatment project of Ake Gas Field in Tarim Basin will be completed.