Sino Oil and Gas (00702) said it entered into a non-legally binding strategic cooperation framework agreement with Shanxi Guxian Lanhua Baoxin Coal Company Limited to establish a project management team for the development of coalbed methane (CBM) project located in the coal mine block of Lanhua Baoxin.
Sino Oil and Gas will conduct technical plan design and assessment of the economic benefits in respect of the CBM development project in order to secure the CBM production sharing contract of the block.
Lanhua Baoxin as a member of the Group of Shanxi Lanhua Technology Venture Co., Ltd is located in Beiping Town, Gu County of Linfen City, Shanxi Province, PRC and owns the coal mine located at the heart of Qinshui coalfield, with a designed production capacity of 900,000 tons per year. The coalfield covers an area of about 6 square kilometres with about 30.61 million tons of recoverable reserves.
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