RH Petrogas Expects Fuyu 1 Block Development Plan Approval in 1H 2014
Singapore-listed RH Petrogas Limited, the holding company of Kingworld Resources Limited (KRL), provided an update on the project undertaken by KRL at Fuyu 1 Block in the Songliao Basin, Jilin Province, China for the quarter that ended Jan. 31.
The company indicated that approval of the Overall Development Plan (ODP) for phased development of Yongping Field in Fuyu 1 Block from China's National Development and Reform Commission (NDRC) is expected in the first half of 2014, later than the previous timeline of the fourth quarter of 2013.
"Development drilling and commercial production at Yongping Field will commence after such approval is granted," RH Petrogas said in a press release Friday.
Meantime, pre-development preparation at the Yongping field, which has been approved by China National Petroleum Corporation, has commenced in 2013 including the procurement of items with long lead times.
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