Phillips Obtains Two Coal-bed Methane Blocks in Shanxi

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Last updated at: (Beijing Time) Wednesday, July 31, 2002

Phillips Obtains Two Coal-bed Methane Blocks in Shanxi

Phillips China, a subsidiary of Phillips Petroleum Company of the United States, announced recently that Phillips had acquired the right to explore coal-bed methane in north China's Shanxi Province.

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Phillips China, a subsidiary of Phillips Petroleum Company of the United States, announced recently that Phillips had acquired the right to explore coal-bed methane in north China's Shanxi Province.

Phillips signed production-sharing contracts with the China United Coal-Bed Methane Corporation for the Qinnan and Shouyang blocks.

The two blocks cover 4,280 square km. Under the terms of the contracts, Phillips is expected to start exploration activities inthe coming six months. And drilling work should begin in September.

Phillips has the right to get a 70 percent stake in case of commercial discovery in exploring the blocks.

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