Sino Oil and Gas Holdings Sanjiao CBM Field Reserves Up

Sino Oil and Gas Holdings on Tuesday published reserves estimate in respect of the Sanjiao CBM field in China.

As on September 30, 2015, company’s 2P reserves stood at 292.2 billion cubic feet (equivalent to approximately 8.301 billion cubic meter) much higher than 237.5 bcf (equivalent to approximately 6.747 bcm) reported on April 30, 2010.

In 2010, Sino Oil and Gas Holdings, through its subsidiary Orion Energy International, had entered into a production sharing contract (PSC) with China National Petroleum Corporation (CNPC), its partner in China, for exploration, exploitation and production at CBM field in the Sanjiao block, located in Shanxi and Shaanxi provinces.

“With the continuous development and increase in number of wells in Sanjiao block, in order to obtain a more accurate understanding of Orion’s current share of interest in the reserve and net present value of the CBM field, the company has recently re-appointed the Reserve Estimate Professional to conduct an overall update on the Sanjiao CBM field reserves,” the company said.