BEIJING (Dow Jones Newswires), Sep. 28, 2010
China National Petroleum Corp. (CNPC) said Tuesday it has found significant gas flow in a well on the right bank of the Amu Darya River in Turkmenistan.
Daily output of 1.44 million cubic meters of natural gas has been coming from exploration well Oja-21 in block B, the company said in its in-house newsletter.
Seismic and geological materials indicate that the area has hundreds of billions of cubic meters of good-quality natural gas reserves, and will become another source of China's long-term gas supplies, it said.
CNPC has said it expects to produce a total of 3 billion cubic meters of natural gas this year from the Amu Darya project.
China is scheduled to receive 5 billion cubic meters of natural gas this year through the Central Asia pipeline, which extends from Turkmenistan, through Uzbekistan and Kazakhstan, to the Xinjiang Uighur Autonomous Region. The pipeline officially began operations in December last year.
CNPC said previously that it was targeting production of 13 billion cubic meters a year from the Amu Darya project by next year.
The company has a production-sharing contract for the project with the Turkmenistan government.
Copyright (c) 2010 Dow Jones & Company, Inc.
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