RH Petrogas Expects Nod for Fuyu 1 Block Development by Year End

Singapore-listed RH Petrogas Limited, the holding company of Kingworld Resources Limited (KRL), reported that it expects to get official approval for KRL's plan to develop the Yongping field at Fuyu 1 Block in the Songliao Basin, Jilin Province, China later this year.

RH Petrogas announced Aug. 22, 2012 that China National Petroleum Corporation (CNPC) has approved the Overall Development Plan (ODP) of the onshore Yongping field. CNPC submitted the ODP to the National Development and Reform Commission (NRDC), with the latter seeking more information on the ODP.

KRL, which is the field operator of the Fuyu 1 Block, will submit a revised ODP to NRDC through CNPC by mid-August.

"The final project approval is expected to be received in the second half of 2013. Development drilling and commercial production at Yongping field will commence after such approval is granted," RH Petrogas said in a press release.

Meanwhile, pre-development preparation, including procurement of items with long lead times, has commenced for the Yongping project with CNPC's approval.

Have a news tip? Share it with Rigzone!
Email news@rigzone.com


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Wood Group Engineers to Carry Out Sakh... (May 22)
 -  Sentinel Marine Takes Delivery of New ... (May 22)
 -  Schlumberger Signs MoU with Saudi Aram... (May 22)
 -  BP Staff Raise Money for 4 Charities w... (May 19)
 -  Norwegian Production Drops Month-on-Mo... (May 19)

Most Popular Articles

From the Career Center
Jobs that may interest you
Production Control Coordinator
Expertise: Production Engineering
Location: Houston, TX
Senior Engineer - Systems
Expertise: Subsea Engineering
Location: Wallingford, CT
United States Rock Springs: Field Engineer - Cased Hole
Expertise: Field Development|Field Service Tech
Location: Rock Springs, WY
search for more jobs

Brent Crude Oil : $53.87/BBL 0.48%
Light Crude Oil : $50.73/BBL 0.79%
Natural Gas : $3.33/MMBtu 2.14%
Updated in last 24 hours