State-owned ONGC has decided to invest Rs.4,000 crore to develop its four coal bed methane (CBM) gas blocks. Two of the four blocks - in North Karanpura and Bokaro, in Jharkhand - will start production by the second half of 2017-18. The company has sold a 25 per cent stake in its North Karanpura CBM block to Prabha Energy Pvt Ltd (PEPL), a unit of Deep Industries. The block in Bokaro will be developed by ONGC. The venture with PEPL is on a joint operatorship model and PEPL will make investments proportionate to its 25 per cent interest in North Karanpura.
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