PetroChina targets 12-fold increase in CBM production by 2015

摘要

PetroChina plans to increase the production of coal-bed methane (CBM) 12-fold by 2015 to 4 Bcm from 0.3 Bcm in 2010, Jie Mingxun president of PetroChina CBM told reporters. Self-financed projects are expected to help reach this target. China’s progress regarding CBM development has been slow as it needs the technology to develop low-cost CBM, especially to reach its 2020 forecast production goals of 10 Bcm. PetroChina paid $5.4 billion for a 50% stake in Canadian Encana’s shale gas assets, and the state-owned company is open to other partnerships that offer technical expertise or financial opportunities to help aid in CBM exploration and production.