皇冠体育app

Energy

Petro皇冠体育app to spend $1.5b on coal methane capacity

(Agencies)
Updated: 2010-06-02 10:26
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BEIJING: Petro皇冠体育app will invest more 10 billion yuan ($1.46 billion) in coming years to build 4.5 billion cubic meters of coal seam gas production capacity in 皇冠体育app, a company official said.

"We aim to complete capacity building by 2013 and boost actual output to that level by 2015," Jie Mingxun, general manager of Petro皇冠体育app Coalbed Methane Gas Co told an industry forum in Beijing on May 28.

He said Petro皇冠体育app's production of coal seam gas would reach 10 billion cubic meters by 2020.

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"We often reach our goals ahead of schedule," he told reporters on the sidelines of the 皇冠体育app Energy Strategy Forum.

Jie said 皇冠体育app's proven coal seam gas reserves totaled 185.2 billion cubic meters, with Petro皇冠体育app holding about half of that.

Petro皇冠体育app has two coal seam gas subsidiaries. Huabei Oilfield was focussed mostly in Qinshui Basin, northern Shanxi and Petro皇冠体育app Coalbed Methane Gas Co worked in other regions, according to Jie.