From September 16 to 19, 2024, Geo-Jade Petroleum CEO Mr. Dai Xiaoping represented the company at the SLB Digital Forum 2024 in Monaco, where he signed a Memorandum of Understanding (MoU) with Schlumberger. During this period, Mr. Dai Xiaoping held in-depth and amicable discussions with Schlumberger's Global Vice President, focusing on collaborative efforts in global oil and gas exploration and development projects. This MoU marks a new chapter of deep collaboration between the two parties in technical support, project management, and resource optimization, aiming to enhance oilfield development efficiency and promote the application of advanced technologies.

Under this collaboration, both parties will appoint Subject Matter Experts (SMEs) to provide technical guidance and evaluations, ensuring professional and efficient support for technical assistance and critical issue resolution. The initial phase of the collaboration will include a detailed preliminary assessment to gain a comprehensive understanding of the project’s resource potential, geological characteristics, and economic feasibility, providing a scientific foundation for project development direction. Following this, Geo-Jade and Schlumberger expert teams will jointly conduct further evaluations focused on thorough technical and market analyses. This approach ensures consensus-based, data-driven decisions, laying a solid foundation for smooth project implementation.

Based on the results of the joint assessment, the two parties will collaboratively develop customized technical and management plans to meet project needs. These integrated strategies may cover exploration and development technologies, production optimization measures, and environmental protection, all aimed at achieving sustainable and efficient operations. Additionally, the parties will set exclusive execution rights in specific work areas, ensuring proprietary control over related technologies and resources. This arrangement enhances project operational efficiency while maintaining high levels of confidentiality and exclusivity in technology and intellectual property.

The signing of this MoU reflects Geo-Jade and Schlumberger’s shared commitment to technological advancement and resource development in the oil and gas sector. Notably, the newly signed MoU will deepen cooperation on oil and gas projects, ensuring orderly implementation at each project stage and jointly pioneering a new landscape in exploration and development. This strategic partnership represents another milestone for Geo-Jade in its international market expansion and technology application efforts, further solidifying the company’s competitiveness in the global energy market.

Meanwhile, the Schlumberger Digital Forum 2024 gathered leaders from across the global energy and technology sectors to discuss the latest advancements in digital technology for the energy industry, with a special focus on artificial intelligence (AI), data analytics, industrial IoT (IIoT), edge computing, and cloud solutions. Geo-Jade’s participation as a representative at this forum underscores its commitment to digital transformation and its proactive approach to collaboration with industry-leading companies. This involvement also signals the potential for Geo-Jade to gain new insights into digital technology applications, supporting innovation and growth in the energy sector.