HKEx: HK$0.00 Search English|简体中文
Home>Operations>Panzhuang Project
Panzhuang Project

Situated in Jincheng, a city in the southern aera of the Qinshui Basin in Shanxi Province, and in partnership with China United CBM Limited, the Panzhuang concession was developed by Sino-American Energy Limited, a subsidiary of AAG Energy Holdings Limited. The Panzhuang concession is the most advanced CBM commercially developed concession with an area of141.8 km2 under PSC.In 2008, Panzhuang realized its first CBM sales, making Sino-American Energy Limited one of the first CBM developersto realize CBM commercialization. The Panzhuang concession is the first Sino-foreign CBM cooperative project in China to have received overall development plan approval, with a designed annual production capacity of 500 million m3. In June of 2016, Panzhuang’s daily gas production exceeded 1.55 mmcm/day, with single well daily production rates that exceeded 28,000 m3, creating a new record in China’s CBM industry. On November 1st, 2016, the Panzhuang concession officially entered the production phase making it the first foreign cooperative CBM project to enter full-scale commercial development and production. In 2016, gross production reached 5.06 MMCM. With a sales utilization rate of 98%, the gross production and gross sales volume was 4.79MMCM.