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Panzhuang Project

Situated in Jincheng, a city within the southern Qinshui Basin and in Shanxi Province, the Panzhuang concession extends over an area of 67.4 square kilometers under the Panzhuang PSC which partnered with CUCBM. We have carried out drilling and surface facility construction activities for pilot production in the Panzhuang concession since 2006. Initial commercial sales began in February 2008.

The Panzhuang concession is the most commercially advanced Sino-foreign CBM asset in China and is the first Sino-foreign CBM concession in China to have received overall development plan approval, with designed annual production capacity of 500 million m3.

Panzhuang daily gas production exceeded 1.55 million m3 (54.7 million cubic feet (“mmcf”)/day) on 17 June 2016, which created  a new record. Average gas production in June exceeded 1.47 million m3/day (51.9 mmcf/day) which represents 13% increase from beginning of 2016.