Essar to invest Rs 2,000 crore in Bengal's brownfield CBM project
Essar Oil and Gas Exploration and Production Ltd (EOGEPL) plans to invest an additional Rs 2,000 crore in its coal bed methane (CBM) project in Raniganj, West Bengal over the next 18-24 months. The funds will be invested in drilling 200 wells. The technology will be employed in the wells to increase production from 0.9 mmscd to 1.3 mmscd within the coming months, with total CBM production touching nearly three mmscd once the additional wells become operational. EOGEPL is currently contributing 65% to India’s CBM production and is likely to increase to 90% post the drilling of additional wells.
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