Behind the completion of this deep well is the top drive plug valve (IBOP) produced by Yongfeng (Chongqing) New Material Technology Research Institute Co., Ltd. (referred to as Yongfeng Company) and Chongqing Yinhe Petrochemical Machinery Manufacturing Co., Ltd. (referred to as Chongqing Yinhe) in Fenghuanghu Industrial Park, Yongchuan High tech Zone, providing safety protection. (Top drive plug valve is a type of equipment used in oil and gas drilling, mainly used to control the flow of drilling fluid and prevent blowouts. It is installed on the top drive system and opens or closes fluid channels by rotating the valve core. It has fast response and high-pressure sealing capabilities, and is suitable for high-pressure and high-temperature drilling environments.)

According to Luo Yubin, Chairman of Yongfeng Company and Chongqing Yinhe Company, compared to the inventory still being sold in April and May of previous years, the company rushed to produce more than 200 top drive plug valves before the Spring Festival this year. The order for 300 valves in February (40000 yuan/valve) was three times that of the same period last year. On February 5th, workers rushed to make orders at the beginning of the new year. It is expected that the annual orders will double compared to the previous year, and the output value will double to reach 200 million yuan. Kaixian blowout triggers research

On December 23, 2003, a major blowout accident occurred in Kai County. During the drilling process, the Luojia 16H well suddenly experienced a blowout and lost control, with natural gas rich in hydrogen sulfide violently ejected. According to Luo Yubin, who was working at Guanghanchuan Oil Well Control Equipment Co., Ltd. at the time, the top drive plug valve, as one of the anti blowout devices, plays an important role in ensuring safe drilling. The Kaixian blowout accident made him think about how to reduce torque and improve the sensitivity of the control valve under pressure difference. He hopes to contribute wisdom and strength to the top drive of surface platforms for oil (gas) drilling by starting from new materials, new processes, new technologies, and other aspects.

8 years of research and development, empowering Yinhe

In 2004, Luo Yubin cooperated with the Ninth Mianyang Institute of the Chinese Academy of Engineering Physics and the Ningbo Institute of Materials Technology and Engineering of the Chinese Academy of Sciences. After an 8-year long journey, we have developed a top drive plug valve with manual switch under a pressure difference of 52MPa, which is at the forefront of the industry.

In January 2012, Chongqing Yinhe Petrochemical Machinery Manufacturing Co., Ltd. settled in Fenghuanghu Industrial Park, Yongchuan District, with Luo Yubin serving as the chairman. The company has standardized office buildings and modern production workshops of over 8000 square meters, specializing in the research and development, manufacturing, sales, and service of wear-resistant drilling and production equipment and accessories for oil and gas. The products have gradually won the market and even sold well overseas.

From the previous situation where a pressure difference of 20MPa could not seal and drilling equipment was prone to safety accidents, to later reducing torque and improving pressure sensing sensitivity, whether it is hydraulic or manual switching, the new top drive plug valve has a rated pressure of 140MPa and can be opened and closed normally under a pressure difference of 52MPa, which has improved the safety factor of deep well drilling.

The establishment of the research institute company helps enterprises soar

On June 27, 2022, Yongfeng (Chongqing) New Materials Technology Research Institute Co., Ltd. was officially established, with Luo Yubin serving as the chairman. The company is mainly engaged in the research and development of new materials; Promotion services for new material technology; Technology research and development, consulting, communication, transfer, and promotion; The manufacturing and sales of specialized equipment for deep-sea oil drilling, as well as the manufacturing of ordinary valves and plugs, have strong comprehensive research and development, design and development, and production capabilities. With strict quality system control and a high-quality after-sales service team, they provide further support for the development of Yinhe Machinery Company.

Now, the company has more than 50 employees and over 20 technical management personnel. There are more than 20 sets of various mechanical processing and material research and development equipment, mainly including 3 CNC pipe thread lathes, 4 CNC lathes, 2 machining centers, 1 horizontal deep hole drilling and boring machine, 2 ball valve grinders, 2 CNC sawing machines, 2 sets of fully automatic data acquisition systems, 2 sets of high-performance material spraying equipment, 1 set of material microstructure analysis equipment, 1 set of material mechanical performance testing system, and so on. By strengthening research and development experiments while focusing on production services, the enterprise has achieved high-quality development.

Innovation is the key to success. If you want to do it, be the most advanced and lead the development of the industry. No one can imitate it. "Luo Yubin deeply understands this truth. The company has introduced advanced supersonic spraying equipment from Europe and America, with advanced and mature technologies for wear resistance, torque reduction, corrosion resistance, and surface hardening and corrosion resistance. It has been committed to researching products with low torque, high corrosion resistance, high wear resistance, high hardness, high strength, high scratch resistance, high temperature resistance, and high erosion impact resistance for switches. The second is to jointly establish the Petroleum Drilling and Production High Performance Functional Material Technology Engineering Center with the Chinese Academy of Sciences Ningbo Institute of Materials Technology and Engineering, and the team includes 4 doctoral students and 16 master students. Led by core researcher Zeng Zhixiang, the group has achieved influential research results in addressing major national needs and key technologies, realizing multiple important technological breakthroughs and domestic substitution of key materials. The third is to avoid the aging of the technical team, and to jointly cultivate doctoral professionals with universities, and to explore outstanding talents in Chongqing, Tianjin, Chengdu, Guanghan and other places for use by enterprises.

Nowadays, the company has multiple invention patents, and its super hard alloy spraying technology and surface coating (target material) technology have become the core technologies of the enterprise. The finished products and core components of the plug valve can completely replace advanced foreign products, becoming the preferred manufacturer for many domestic customers to promote product localization. There are 5 models of top drive plug valves, including 187-280mm, available for different depths of wells, with prices ranging from 30000 to 130000 yuan per valve. The net profit of the product can reach 30% to 40%, demonstrating the incredible power of technology investment.

New materials, new processes, and new technologies make the new products manufactured by the company have a longer service life and are more resistant to corrosion, wear, and high pressure. 60% of the company's products are sold to enterprises such as PetroChina, Sinopec, and CNOOC, while 40% of the products are exported to countries such as Libya, Kuwait, India, Russia, and Belarus. The Science and Technology Bureau of Yongchuan District conducts in-depth innovation services for enterprises, and guides enterprises to standardize tax incentives such as R&D expense deduction and advanced manufacturing enterprise value-added tax deduction, targeting the typical characteristics of large R&D investment and high product added value of enterprises. It continuously enhances innovation capabilities and leads the high-quality development of the industry.

Our product has been used in oil and gas 5000 meter deep wells. Recently, it was successfully tested during the drilling of the first over 10000 meter deep exploration well - Deep Earth Taco 1 well, which was 10910 meters underground. We will also reserve technology for 15000 meter deep exploration wells. "Luo Yubin said that last year, the company invested 10 million yuan in research and development, with an investment intensity of 20% to 30%. The top drive plug valve exclusively supplied to Sichuan and Xinjiang scientific exploration wells, providing protection for the exploration and development of national 10000 meter deep wells.

Due to the high recognition of product quality and service from users, the company has taken the initiative in selecting customers. In addition to oil and gas field drilling, its technology can also be used for mobile phone hinges, Yadi core components, automotive bearings, shock absorbers, etc., with broad industrial market prospects.