Shale oil and gas revolution and its impact

The shale oil and gas revolution has prolonged the life cycle of oil industry in the world, and promoted the growth of global oil and gas reserves and production, thus having influences on the energy strategy of each country. The formation and evolution of organic-rich shale worldwide were controlled by the life explosion and mass extinction events in the past geological periods. In combination with the worldwide exploration and development of shale oil and gas, the shale oil and gas revolution involves scientific and technological revolution, management revolution and strategic revolution. Through the scientific and technological revolution, the resource-based view is expanded from a single resource type to a "source rock bearing oil and gas" system; the efficient and low-cost development of shale oil and gas are realized by the management revolution; a new map of the worldwide energy is reshaped by the strategic revolution. Through systematically introducing the industrial practices in terrestrial shale oil and marine/terrestrial shale gas, it is clear that the underground in-situ heating conversion technology represents the actual exploration of the large-scale development and utilization of shale oil resources with medium-low maturity, and the volume fracturing technology for horizontal well is an effective way to realize the low-cost development of shale oil resources with medium-high maturity. It is pointed out that the shale oil with medium-low maturity in the Member 7 of Yanchang Formation in Ordos Basin and that with medium-high maturity in the Daanzhai Member of Jurassic Ziliujing Formation of Sichuan Basin have great resource potential. At present, China has achieved a success in the development of marine shale gas shallower than 3500 m, and major breakthroughs have been made in the exploration of transitional and marine shale gas deeper than 3 500 m. The underground coal gasification test represents an exploration way for achieving clean and sustainable use of coal. The shale oil and gas revolution has a profound impact on China's energy development. It breaks through the traditional oil exploration theories by introducing "source rock bearing oil and gas" as a new petroleum system, drives the technological explosion, speeds up the energy type alternation, opens the development path of "depending on conventional petroleum, making a breakthrough in unconventional petroleum, and developing new energy", which is expected to achieve energy independence in China. © 2020, Editorial Office of ACTA PETROLEI SINICA. All right reserved.