Significant progress has been made in the exploration and development of oil and gas resources by state-owned enterprises in Sichuan Province.

On March 20th, the first well "Resource 1" of the Pingshan oil and gas block operated by Sichuan Natural Resources Investment Group officially started, providing important support for Sichuan to build a national clean energy demonstration province and to create a billion cubic meter natural gas production base in the Sichuan-Chongqing area. The Pingshan oil and gas block is located in Muxuan County, Ma Bian Yi Autonomous County, and Pingshan County, Yibin City, with a total area of 594.24 square kilometers. The geological conditions of the block are good, with multiple gas-bearing layers, particularly unconventional gases such as shale gas, with estimated resources of 3299.66 billion cubic meters. The exploration potential of oil and gas is significant, and the development value is high. Through efficient development, the Pingshan oil and gas block aims to achieve gas production by the end of this year, with a target production scale of 1.5 billion cubic meters per year by 2033. The commencement of the first well marks an important breakthrough in the independent participation of Sichuan provincial enterprises in oil and gas resource exploration and development, creating a new cooperation model of central-local enterprise resource complementarity, mutual benefit, and win-win cooperation for oil and gas development in Sichuan.