China awards more coalbed methane PSCs

Texaco China BV has signed production sharing contracts with China United Coalbed Methane Corp. in Beijing to explore three blocks in northwestern China for coalbed methane.Texaco will explore the blocks, which cover 6,897 sq km, over a 5-year period. With these contracts, Texaco has signed eight PSCs with China United.Officials claim the three blocks, in the Zhungeer region in Inner Mongolia, Shengfu region in Shaanxi province, and Debao region in Shanxi province, contain an estimated 1 trillion cu m of methane.The contract provides for an exploration period to be followed, if resources are commercial, by phased development and production periods.Texaco will bear all the risks and expens...

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