Dart Energy eyes commercial production at Liulin in H1 2013

14 June 2012 12:32  [Source: ICIS news]

SINGAPORE (ICIS)--Australia-listed Dart Energy is expected to achieve commercial production and sales of coal bed methane (CBM) from its Liulin project in China in the first half of 2013, the global CBM company announced on Thursday.

The Liulin block is operated by Fortune Liulin Gas (FLG), in which Dart Energy and Fortune Oil each owns a 50% stake. 

FLG has a 50% interest in the Liulin block.

The block is producing over 500,000 cubic feet/day of CBM currently and the output will increase in the coming months as the operator is taking measures to boost production, according to a statement from Dart Energy.

Under the existing gas sales agreement, FLG has the potential to receive approximately $4.1m/year (€3.3m/year) of revenue from the block starting from July next year, it said.

($1 = €0.80)

By: Fanny Zhang
+65 6780 4359

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