On February 23, 2023, the kickoff meeting of the "Key Technology Research and Industrialization of Carbon Dioxide Oil Displacement and Extraction" project, a major scientific and technological innovation project in Shandong Province, was successfully held at the Qingdao Research Institute of Deshi Group. Bi Yiquan, Vice Chairman and Secretary General of Shandong Petroleum Society, Guo Naili, Deputy Director of Dongying Science and Technology Bureau, and Liu Dong, Secretary of the Party Committee of the District Science and Technology Bureau, attended the meeting. Chairman Cui Shizhang, Vice President Wang Liming, Chief Scientist Song Xinwang, and project leaders of joint units also attended the meeting.

The project is led by the DEX Group, and jointly carried out technical research with China University of Petroleum (East China), Chinese Academy of Sciences, Shanghai Institute of Advanced Research, Tianjin Binhai New Area Environmental Innovation Research Institute and other units. It is committed to building a whole process carbon dioxide capture and oil displacement geological storage (CCUS) technology sequence and its implementation and promotion, helping to achieve the national "double carbon goals".

At the meeting, Chief Scientist Song Xinwang introduced the mission objectives and requirements, and each project leader reported on the progress, research content, and schedule of the project. The attending leaders fully affirmed the project and provided guidance and suggestions in terms of technological innovation, research focus, achievement transformation, and project management. Next, Deshi Group will further strengthen communication with various research groups, increase efforts to tackle key technologies, complete various task objectives on time, with quality and efficiency, achieve a win-win situation for oil displacement and storage, and lay a solid foundation for building a low-cost, low-energy consumption, safe and reliable CCUS technology system and large-scale application.