On December 15, following November this year, Sinopec made another strategic breakthrough in shale oil exploration. Three shale oil exploration wells deployed by its East China Petroleum Bureau in Subei basin achieved high-yield shale oil flow. Recently, Qinye 1hf well has tested 55 tons of oil per day; Shuaiye 3-7hf well has a daily oil production of 20 tons; The previously deployed well Sanduo 1 has produced 392 consecutive days of spontaneous injection, with a cumulative production of 11000 tons of shale oil. According to the preliminary evaluation, Sinopec has implemented a favorable area of 420 square kilometers and 350 million tons of shale oil resources in Qintong sag of Subei basin, which shows a good exploration and development prospect in this area and will open up a strategic replacement position for crude oil resources in Subei basin of China.