Sino Oil and Gas Holdings Close to Getting Sanjiao CBM Project Nod
Sino Oil and Gas Holdings Limited is expected to shorty get a go ahead to development program for its Sanjiao coal bed methane project in Shanxi Province. The program was submitted to the National Development and Reform Commission, National Energy Administration in mid-May.
The Sanjiao CBM block is a joint project between the Group's wholly-owned subsidiary Orion Energy International Inc. and China National Petroleum Corporation (PetroChina).
"The Sanjiao CBM project has already entered commercial production, beginning to generate sustained cashflow for the Group. The Group's financial conditions and cash position are strong and steady, and are sufficient to fund the daily operations of the project," Sino Oil and Gas Holdings Chief Executive Officer Mr. King Hap Lee said.
Sino Oil and Gas Holdings Limited is an energy company with a key focus on oil, coalbed methane (CBM) and conventional natural gas. The Group currently operates oil and gas fields in Shaanxi and a CBM project in Sanjiao Block in Erdos Basin of China.