Exploration & Production

Greka Group’s CBM blocks will be online and in profit by 2020

Greka Group expects all eight of its CBM blocks in China to be operational and profitable by 2020
By Staff reporter 7 December 2018 0 33603

Greka Group expects all eight of its CBM blocks in China to be operational and profitable by 2020, the state-run China Daily newspaper reported on Friday.

Greka holds a 47% stake in the 6,700-hectare Chengzhuang Block, which is operated by China National Petroleum Corp. and became profitable in 2010.

The company also owns 60% of the Shizhuang South Block, which it jointly operates with China National Offshore Oil Corp. and which turned profitable in 2015.

“We will see a third block become profitable by next year, and we...