Business Services Industry
CHINA UNITED COALBED, US FAR EAST ENERGY SIGN METHANE PACT.
AsiaPulse News, December, 2002
BEIJING, Dec 4 Asia Pulse - China United Coalbed Methane Co. Ltd. (CUCBM) and US-based Far East Energy Corporation signed a contract here on December 3 for cooperative exploration of coalbed methane (CBM) resources in the Enhong and Laochang areas of southwest China's Yunnan Province.
The CMB Production Sharing Contract (PSC), covering a 1,072-sq-km project area in Qujing city, is the first of its kind in Yunnan in cooperation with foreign partners.
The province has abundant coal and CBM resources, but no commercial conventional oil or gas field has been discovered yet. This wide gap between supply and demand of oil and gas has remained a key obstacle to the sustainable economic development of the province, said Huang Zhida, General Manager of CUCBM....
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