China Petroleum Qinghai Oilfield Company is a regional company affiliated to China Petroleum and Natural Gas Co., Ltd., and its main exploration field is the Qaidam Basin, which is known as the "cornucopia". "Qaidam" is Mongolian, which means "salt marsh", more precisely, "shallow gentle slope with pebbles". The Qaidam Basin is surrounded by Kunlun Mountain, Altun Mountain and Qilian Mountain, with an overall elevation of 2,600-3,000 meters, an east-west length of about 800 kilometers and a north-south width of about 320 kilometers, with a total area of 250,000 square kilometers and a sedimentary area of 6,543.8+0.2 million square kilometers. Among them, Mesozoic and Cenozoic sedimentary areas with oil and gas exploration prospects are about 96,000 square kilometers.

Qinghai Oilfield Company was established in 1999 after the restructuring of Qinghai Oilfield. Its main business includes oil and gas exploration, production and sales. Production and sales of petroleum and natural gas chemicals; Oil and gas pipeline operation; Oil and gas exploration, research, technical services, etc. Qinghai oilfield has unique resource advantages. The total oil resources in Qaidam Basin are 210.50 billion tons, and the total natural gas resources are 2.5 trillion cubic meters.

By the end of 2004, Qinghai Oilfield Company had proved and controlled 408 million tons of petroleum geological reserves and 400.5 billion cubic meters of natural gas geological reserves. In 2004, it produced 4 million tons of oil and gas, realized the main business income of 865.438+0.42 billion yuan, paid taxes and fees of 725 million yuan, and realized the domestic profit of 654.38+0.728 billion yuan, and won the title of "Financial Pillar Enterprise of Qinghai Province".