Green Dragon Gas Ltd., one of the largest independent companies involved in the production of CBM gas and the distribution and sale of wholesale gas in China, announced an operations update to 31 December 2012.
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Technology and Engineering Division
Randeep Grewal, Founder & Chairman of Green Dragon Gas , commented: “We are very pleased with the continued success of the LiFaBriC wells as they demonstrate a stable and sustainable gas production profile once the well de-waters. This predictable production profile enabled us to exceed our production targets for the year end. We are comfortable that the additional production wells currently de-watering will achieve the expected gas production volumes commensurate with the existing ones.
Quite similar to the successful development of Greka Drilling (AIM: GDL), we have consolidated our engineering and technological capability into Greka Engineering and Technology (GET). Third party contracts have complemented the existing Green Dragon Gas contracts. As the unconventional gas industry continues its exponentional growth in China, the demand for GET’s products and engineering services is expected to grow significantly. GET’s five year niche track record ideally positions the business to capitalize on this demand.
While 2012 saw very significant progress in our LiFaBriC production drilling at the GSS production block, we expect 2013 to be the year that we optimise the completion technology for progressing one additional exploration block into commercial production.”
[mappress] LNG World News Staff, January 22, 2013; Image: Green Dragon Gas