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Hainan has become a hot investment area for oil and gas exploration and development enterprises

Nov 10, 2022

The 7th World Oil and Gas Equipment Expo (WOGE) opened in Haikou on August 8. Industry participants introduced that after nearly 40 years of development, Hainan has formed a relatively complete oil, gas and chemical industry chain, including offshore oil and gas exploration and development, oil and gas storage and transportation, petroleum refining, natural gas olefin production and downstream chemical raw materials. With the discovery and vigorous development of oil and gas resources in the South China Sea, Hainan is becoming a hot investment area for domestic and foreign oil and gas exploration and development enterprises.
Hainan Province is rich in oil, natural gas and gas hydrate resources. During the 13th Five-Year Plan period (2016-2020), Hainan Province has continuously promoted resource exploration and development, accelerated refining, petrochemical and driven the development of warehousing, logistics, trade, finance and infrastructure. The added value of oil and gas industry has increased from 13.96 billion yuan (current price) at the end of 2015 to 21 billion yuan (current price) in 2020, with an average annual growth rate of 8.5%.
According to statistics, by the end of 2021, there are 57 enterprises above designated size in the petrochemical industry in Hainan Province, including 2 petroleum and natural gas exploitation enterprises, 7 petroleum processing, coking and nuclear fuel processing enterprises, 12 gas production and supply enterprises, 19 chemical raw materials and chemical products manufacturing enterprises, 17 rubber and plastic products enterprises, and 5 natural gas power generation enterprises.
The 7th World Oil and Gas Expo (WOGE) -KOSUN
WOGE is a professional platform designed to provide services for both suppliers and producers in the petrochemical equipment industry. Relying on the resources in the South China Sea and taking advantage of the construction of Hainan Free Trade Port, WOGE has permanently settled in Hainan. KOSUN was invited to participate in this exhibition, and its comprehensive solutions, such as solid control system, mud zero dischage treatment system and oily sludge treatment system, have won unanimous praise from the industry.