13 days ago
Jade Gas has signed a non-binding agreement to secure an estimated A$1.1bn ($771m) in funding for phase one development at the Red Lake coal bed methane project in Mongolia.
The collaboration agreement has been signed with Beijing Energy Linking (PTBEL) and its consortium partners.
This step follows a period of operational and regulatory progress for Jade Gas, notably approval of the appraisal report for the Red Lake project in April.
Under the collaboration agreement, PTBEL has been named as lead contractor. It will appoint either or both PetroChina and Hunan Geology & Mining Technology as subcontractors.
The initial phase involves drilling 175 wells, representing approximately 20% of the total planned drilling across the 60km² Red Lake Development Area.
#ptbel #phase
The collaboration agreement has been signed with Beijing Energy Linking (PTBEL) and its consortium partners.
This step follows a period of operational and regulatory progress for Jade Gas, notably approval of the appraisal report for the Red Lake project in April.
Under the collaboration agreement, PTBEL has been named as lead contractor. It will appoint either or both PetroChina and Hunan Geology & Mining Technology as subcontractors.
The initial phase involves drilling 175 wells, representing approximately 20% of the total planned drilling across the 60km² Red Lake Development Area.
#ptbel #phase
