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Private Sector | West Bengal - India | PID: 200703
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Essar Oil and Gas Exploration and Production (EOGEPL) will invest Rs 2,000 crore in its coal bed methane project in Raniganj, West Bengal over the next 18 to 24 months. This will be in addition to the investment of Rs 5,000 crore in the Raniganj block towards drilling 350 wells and producing nearly 0.9 mmscd of gas per day
The infusion of Rs 2,000 crore will be made towards drilling 200 more wells in the next 18 to 24 months. The company will deploy the latest technology in the existing wells for the scaling-up of production from 0.9 mmscd to 1.3 mmscd, which is expected to be completed within a few months
The total CBM production from Ranigunj will touch around three mmscd when the additional wells become operational. The oil and gas producer plans to undertake drilling of two shale gas wells, a form of unconventional hydrocarbon (UHC), at Raniganj in 2023 on a pilot basis following which a detailed appraisal will be done
The company's capacity, which currently accounts for nearly 65 percent of the country's total CBM production, is likely to go up to 90 percent post drilling of the additional wells
CBM has the potential to displace 10 to 30 percent of the annual requirement of LNG imports in the near term thus reducing import bills
| Updated on: 28 - Apr - 2023
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