Exploration & Production

AAG Energy’s CBM output hits 541 MMcm in 2016

Chinese independent AAG Energy Holdings produced 541 million cubic metres of CBM in 2016, up by 7% from 2015.
By Staff reporter 5 April 2017 0 25380

Chinese independent AAG Energy Holdings produced 541 million cubic metres (MMcm) of CBM in 2016, up by 7% from 2015, according to annual earnings filed with the Hong Kong Stock Exchange.

The Panzhuang Block contributed 506 MMcm while the Mabi Block produced 35 MMcm. Both blocks are located in northern China's Shanxi province, a major source of domestic coal.

Gas sales increased by 3.5% year on year, to 496 MMcm. The company made a net profit of RMB 106 million ($15.4 million) in 2016.

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