PetroChina Denies Suspending CBM Operations

PetroChina has denied a report that it had suspended coal bed methane projects because of dry wells, Bloomberg reports.

International Oil Daily reported on July 8 that PetroChina has suspended drilling of its coal gas wells because 700 out of 1,000 wells are dry ans the company would be unable to meet its 2015 production target of 6 billion cubic meters per year, Bloomberg added.

PetroChina spokesperson told Bloomberg that the report is not true.

The company produced 186 million cubic meters of coal gas in the first quarter, accounting for 19 percent of its annual target, Bloomberg said citing a report on PetroChina website. The company is standing by its 2015 coal gas production target and “there is no reason to reduce” it, given its progress in the sector in the past few years, the company spokesperson told Bloomberg.