As per the 2015 resolution of the Joint Management Committee for the two upstream projects, Dina 1 Gas Field and Tuzi Luoke Gas Field, which are jointly developed by the Company and China National Petroleum Corporation, satisfactory results have been achieved from the exploration and production of Dina 1 Gas Field and Tuzi Gas Field and new knowledge has been acquired.
The Company has achieved its main work targets of the year. The two subsidiaries of the Company have to come to agreements with the Second Exploration Branch of PetroChina and the Sixth Exploration Branch of China Petroleum & Chemical Corporation on the new well drilling and ground project construction for these two projects respectively. The Joint Management Committee has come to an agreement on the following subjects:
•For Tuzi Gas Field project, construction work for the Tuzi 103 platform and ground facilities will be commenced, and 5 new gas wells will be built. In the case of Tuzi 103 platform being put into production successfully, it is anticipated that by that time, the production of Tuzi Gas Field will be enhanced by 800,000 cubic meters per day.
•For Dina 1 Gas Filed project, demonstration for repair and operation work for Dina 11 well will be commenced, and production strives to be resumed before August 2015. If the implementation of this project comes to a success, it is anticipated that by that time, the production of Dina 1 Gas Field will be enhanced by 200,000 cubic meters per day.