April 25, 2024 18:49 (IST)
Follow us:
WB: Essar's Raniganj (E) block becomes India's highest CBM producer
Durgapur, Jul 14 (IBNS): As the first company in India, Essar Energy has marked the highest production of Coalbed Methane (CBM) gas with its Raniganj (East) block at the rate of 1 million standard cubic metres per day (scmd).
During a press conference here in West Bengal's Durgapur city, Essar Energy's CEO (Exploration & Production-E&P) Manish Maheshwari on Wednesday announced the company's achievement of crossing the 1 million scmd milestone.
"CBM offers a new energy frontier as India evolves to a gas based company. Delivering 1 million scmd from Raniganj (East) Block marks the beginning as the potential is tremendous. We have targets to produce CBM at the rate of 2 million scmd by March 2017 and to reach a plateau of 3 million scmd by middle of 2017-18," Maheshawri said.
"The Raniganj (East) Block has sizeable CBM reserves with 25 to 30 years of field life. With a cumulative investment of 3300 crores rupees till date, Essar Energy has drilled and fracked nearly 300 wells and established an infrastructure to produce, condition, compress and deliver CBM gas to the industrial consumers in Durgapur," he further added.
The Essar Group will invest additional 1000 crores rupees in West Bengal to achieve the next goals.
(Reporting by Deepayan Sinha)
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Vedanta Ltd Q4FY24 net profit drops 27% YoY to Rs 1,369 cr Thu, Apr 25 2024
Swiggy gets shareholders' nod for $ 1.2 billion IPO Thu, Apr 25 2024
HUL Q4FY24 profit drops 6% YoY to Rs 2,406 cr Thu, Apr 25 2024
Credit card spending grows 27% YoY to Rs 18.26 trillion in FY24: RBI Thu, Apr 25 2024
Mahindra Tractors crosses milestone by selling 40 lakh tractor units Thu, Apr 25 2024
DishTV India expects to touch 30 percent market share at the end of current financial year, says CEO Manoj Dobhal Thu, Apr 25 2024
DCB Bank Q4FY24: PAT grows YoY 9% to Rs 156 cr Wed, Apr 24 2024