Daqing Oilfield

What Daqing Oilfield does

Daqing Oilfield is a wholly state-owned subsidiary of China National Petroleum Corporation (CNPC), operating one of the world's largest sandstone oil fields discovered in September 1959 in Heilongjiang Province, China. The company spans oil and gas exploration, development, and production across four major Chinese basins (Songliao, Hailar, Tarim, and Sichuan-Chongqing) plus overseas projects in Iraq, Mongolia, and Indonesia. Cumulative production since 1959 exceeds 2.584 billion tons of crude oil and 169.748 billion cubic meters of natural gas, with current domestic and overseas annual oil and gas equivalent output above 40 million tons.

Core technologies center on enhanced oil recovery (EOR): Daqing runs the world's largest tertiary oil recovery R&D and production base, with proprietary polymer flooding and ternary composite flooding technologies that lift recovery rates by 12-18 percentage points over water flooding, supported by a continental shale oil in-situ accumulation theory that has scaled Gulong shale oil output to over 1 million tons annually in 2025. The company also operates a digital oilfield stack including the 'Oil Doctor' AI platform (7.5 million cumulative calls), digital oil well electric parameter technology deployed across 10,000+ wells, and intelligent tower frame pumping units delivering 32.83% electricity savings.

The business model is structurally captive. Revenue streams comprise oil and gas production (government-regulated pricing), new energy (wind-solar generation reaching 3.0 billion kWh in 2025 and 3.28 GW installed capacity by mid-2026), equipment manufacturing (submersible pumps, pumping units, perforating equipment, cables, chemicals exported to 30+ countries), and engineering/technical services (geophysics, drilling, cementing, EOR). Distribution runs through CNPC group procurement for domestic sales, with international revenue via direct enterprise contracts in Iraq, Mongolia, and Indonesia. Customer concentration is high as the parent CNPC/PetroChina is simultaneously the dominant buyer, distributor, and contracting counterparty.

Name

Daqing Oilfield

Legal name

China National Petroleum Corporation (中国石油天然气集团有限公司)

Website

https://dqyt.cnpc.com.cn

Company type

Private

Founded year

1959

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Daqing Oilfield is a CNPC state-owned subsidiary and one of the world's largest sandstone oilfields, producing crude oil and natural gas across four Chinese basins and in Iraq, Mongolia, and Indonesia, with proprietary enhanced oil recovery and shale oil technologies plus a diversified equipment and renewable energy portfolio.

Ownership category

akta.pro rank

Product category

Oil and Gas Upstream Production

NAICS

Oil and Gas Extraction (211), Crude Petroleum Extraction (211120), Natural Gas Extraction (21113), Oil and Gas Field Machinery and Equipment Manufacturing (333132)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Machinery & Equipment (3533), Oil & Gas Field Services, Nec (1389), Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Field Development Planning & Subsurface Reservoir Engineering (EUALAAAC)

akta.pro secondary industries

Oilfield Equipment Manufacturing & Supply (Wellheads, BOPs, Surface Equipment) (EUALABAL), Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals) (EUALABAH), Produced Water & Upstream Water Management (EUALAAAL)

Keywords

• Crude oil production
• Oil and gas exploration
• Tertiary oil recovery
• Oilfield equipment manufacturing
• Natural gas processing

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Oil and Gas Production: Core business of crude oil and natural gas exploration, development and production. Cumulative production of 2.584 billion tons of crude oil and 1,697.48 billion cubic meters of natural gas. Domestic and Tamu Chage regions combined.
2. New Energy (Wind-Solar Power Generation): Green power generation through wind and solar projects. Self-generated green power exceeded 3.0 billion kWh in 2025. 1.6 GW wind-solar project in Lindian County projected to transmit 4.5 billion kWh annually.
3. Equipment Manufacturing: Manufacturing and sales of petroleum equipment including抽油机 (oil pumping units), 潜油电泵 (submersible pumps), 射孔器材 (perforating equipment), and specialized vehicles. Products exported to 30+ countries.
4. Engineering and Technical Services: Geophysical exploration, drilling, well logging, cementing, downhole operations, and engineering construction services for domestic and international markets.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Daqing Oilfield is an integrated upstream petroleum enterprise engaged in onshore oil and gas exploration, development, and production across four major basins (Songliao, Hailar, Tarim, Sichuan) with cumulative production of 2.584 billion tons of crude oil and 169.748 billion cubic meters of natural gas. It operates as the world's largest tertiary oil recovery R&D and production base using proprietary polymer flooding and ternary composite flooding technologies, and also manufactures oilfield equipment (submersible pumps, pumping units, perforating equipment), provides engineering and technical services domestically and internationally, and increasingly generates wind-solar renewable energy.

Product overview

Daqing Oilfield operates as a comprehensive oil and gas enterprise with a diversified product and service portfolio. The core offerings include oilfield equipment manufacturing (submersible electric pumps, oil pumping units, perforating equipment), construction materials (cables, pipes, cement), specialty films, chemical products, and beverages. The company also provides integrated oilfield services including exploration, development, and tertiary oil recovery. Key products like the intelligent tower pumping units represent technological upgrades from traditional beam pumps, while services span from oil and gas exploration to natural gas purification. The product ecosystem is complemented by chemical additives, corrosion-resistant equipment, and fiberglass products serving both internal oilfield operations and external markets across 30 countries.

Differentiator

Problem solved

Functional benefit

Brands

• Powerlift (力神): Submersible pump brand manufactured by Lishen Pump Co., Ltd., the only submersible pump center of CNPC
• Kingspear (庆矛)
• Qingzi (庆子)
• Changyuan (长元)
• Youlong (油龙)
• Qinggang (庆港)
• Qingpu (庆普)

Products and services

• Crude Oil and Natural Gas Production Core upstream business of crude oil and natural gas exploration, development, and production across Songliao, Hailar, Tarim, and Sichuan basins, maintaining over 30 million tons of annual domestic production for sale to CNPC group.
• Tertiary Oil Recovery Services (Chemical Flooding) Enhanced oil recovery services using proprietary polymer flooding and ternary composite flooding technologies that increase recovery rates by 12-18 percentage points over water flooding, delivered both domestically and to international partners.
• Oil and Gas Exploration Services Oil and gas exploration services across 16 basins including seismic, geological, and reservoir evaluation work, delivered to internal CNPC operations and external customers.
• Sour Gas Purification Service Natural gas purification including sour gas treatment, with operational capacity exceeding 200 million cubic meters of processed gas.
• Wind-Solar Power Generation Green power generation through wind and solar projects, including the Lindian County 1.6 GW wind-solar installation.
• Engineering and Technical Services Geophysical exploration, drilling, well logging, cementing, downhole operations, and engineering construction services delivered domestically and internationally to oil and gas operators.
• Oil Pumping Units (抽油机) Beam pumping units including conventional, double-horsehead, large transmission ratio low-stroke, tower-type CNC, and offset pendulum models for oil extraction.
• Powerlift (力神) Submersible Electric Pumps (潜油电泵) Submersible electric centrifugal pump systems with four series (86/95, 101/114, 130/143, 172/188) suitable for 4.5-9.625 inch casings, flow rates from 20-4700 m3/d, and lift heights up to 3500m, manufactured by Lishen Pump Co., Ltd. and exported under the Powerlift brand.
• Kingspear (庆矛) Perforating Equipment (射孔器材) Perforating equipment including perforating charges, guns, detonating cords, and related tools with over 80 varieties, manufactured under the Kingspear brand by Daqing Oilfield Perforating Equipment Co., Ltd.
• Intelligent Tower Pumping Units (智能塔架抽油机)

Quantifiable outcome

• Polymer flooding increases recovery rate by 12+ percentage points over water flooding; ternary composite flooding increases by 18+ percentage points
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Northeast Petroleum University (东北石油大学)coreStrategic or Co-development Partner · 1 April 2026Joint research on physics-informed smart grid dispatch under renewable uncertainty, integrating dynamic graph learning, privacy-aware multi-agent reinforcement learning, and causal intervention analysis. Published paper in April 2026.
• Northeast Petroleum University (东北石油大学)coreStrategic or Co-development Partner · 1 November 2020Signed strategic cooperation framework agreement in November 2020 for joint research, talent development, and technology collaboration.
• National Key Laboratory for Multi-resource Collaborative Continental Shale Oil Green Mining (多资源协同陆相页岩油绿色开采全国重点实验室)coreStrategic or Co-development PartnerNational key laboratory co-established with Northeast Petroleum University and Oil and Gas Center for shale oil research, hosting international academic exchanges and workshops on shale oil CO2 fracturing and EOR technologies.
• Lindian County GovernmentminorStrategic or Co-development Partner1.6 GW wind-solar power generation project development in Lindian County for green energy transition and power supply.
• Daqing Heng'an Evaluation and Testing Co., Ltd.minorOthersWholly-owned subsidiary providing safety evaluation services with registered capital of 5 million yuan, established 2003, providing safety assessment for land petroleum and natural gas extraction.

Scale indicators14 records

Recent moves10 records

Expansion highlights6 records

Regional players

• YPF: Argentina's state-controlled integrated oil company with mature onshore fields requiring advanced EOR. Comparable as a state-affiliated upstream operator facing mature-field decline challenges similar to Daqing.

Direct peers

• CNOOC: China's primary offshore oil and gas producer under SASAC. Comparable as a Chinese SOE upstream peer, but focused on offshore acreage versus Daqing's onshore sandstone and shale assets.
• PetroChina: Listed subsidiary of parent CNPC, operating Daqing's producing assets alongside other Chinese oil and gas fields. Directly comparable upstream E&P business with overlapping acreage and CNPC procurement channels.
• Pertamina: Indonesian state-owned national oil company and an active customer of Daqing's polymer flooding EOR services (Minas Oilfield pilot contracts). Comparable national oil company profile with overlapping focus on mature field rejuvenation.

Broad incumbents

• China Petrochemical Corporation (Sinopec Group): China's largest state-owned oil and gas conglomerate, with parallel upstream E&P, refining, and petrochemical operations. Comparable in scale and SOE structure but with broader downstream integration.
• Halliburton: Global oilfield services and equipment company with comparable production services and artificial lift offerings. Overlaps with Daqing's pumping unit and well intervention business internationally.
• Baker Hughes: Global oilfield equipment and services company with comparable artificial lift (submersible pumps) and drilling products that compete directly with Daqing's Powerlift brand in export markets.
• SLB (Schlumberger): Global oilfield services leader offering EOR, drilling, and production technologies worldwide. Comparable in tertiary recovery R&D and global EOR service delivery, but as a private commercial provider rather than an integrated operator.
• Saudi Aramco: World's largest state-owned integrated oil company, with analogous long-life conventional reservoirs and SOE-style strategic mandate. Comparable scale of cumulative production and government backing, though with very different geology.

Emerging players

• Weatherford International: Global oilfield equipment and services provider with comparable artificial lift and well construction offerings. Competes with Daqing's perforating and pumping equipment in international tenders.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/petrochina-tarim-oilfield-company

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Daqing Oilfield