+
Essar plans to invest Rs 2,000cr in Bengal’s brownfield project
COAL & MINING

Essar plans to invest Rs 2,000cr in Bengal’s brownfield project

Essar Oil and Gas Exploration and Production Ltd (EOGEPL) will invest another Rs 20 billion in the next 18 to 24 months in its coal bed methane project in West Bengal’s Raniganj, an official said.

The company earlier had already invested Rs 50 billion in the Raniganj block in drilling 350 wells and producing nearly 0.9 million metric standard cubic metres (mmscd) of gas per day.

Chief executive officer (CEO) of EOGEPL, Pankaj Kalra, said that another investment of Rs 20 billion will be made for drilling 200 more wells in the next 18 to 24 months.

“We are employing the latest technology in the existing wells to ramp up production from 0.9 mmscd to 1.3 mmscd which will be completed in a few months “, Kalra said.

Total CBM production from Ranigunj will touch around three mmscd when the additional wells become operational, Kalra added. He said the company is currently contributing nearly 65 per cent to the country’s total CBM production, which is likely to go up to 90 per cent post drilling of the additional wells.

Kalra also said two shale gas wells, another form of unconventional hydrocarbon, will also be drilled at Raniganj in 2023 as a pilot project following which a detailed appraisal will be done.

The company is currently contributing Rs 1.5 billion to the state exchequer annually which is likely to go up to Rs 3 billion once production of CBM from Raniganj is ramped up.

The official also said that being an unconventional form of energy, China and Australia are giving support to CBM production in those countries by subsidising the sector to bring in more investors.

He said CBM has the potential to displace 10 to 30 per cent of the annual requirement of LNG imports in the near term thus reducing import bills.

See also:
Shyam Steel plans to invest Rs 25 billion in Brownfield and Greenfield projects
NTPC eyes 10GW coal-based brownfield expansion


Essar Oil and Gas Exploration and Production Ltd (EOGEPL) will invest another Rs 20 billion in the next 18 to 24 months in its coal bed methane project in West Bengal’s Raniganj, an official said. The company earlier had already invested Rs 50 billion in the Raniganj block in drilling 350 wells and producing nearly 0.9 million metric standard cubic metres (mmscd) of gas per day. Chief executive officer (CEO) of EOGEPL, Pankaj Kalra, said that another investment of Rs 20 billion will be made for drilling 200 more wells in the next 18 to 24 months. “We are employing the latest technology in the existing wells to ramp up production from 0.9 mmscd to 1.3 mmscd which will be completed in a few months “, Kalra said. Total CBM production from Ranigunj will touch around three mmscd when the additional wells become operational, Kalra added. He said the company is currently contributing nearly 65 per cent to the country’s total CBM production, which is likely to go up to 90 per cent post drilling of the additional wells. Kalra also said two shale gas wells, another form of unconventional hydrocarbon, will also be drilled at Raniganj in 2023 as a pilot project following which a detailed appraisal will be done. The company is currently contributing Rs 1.5 billion to the state exchequer annually which is likely to go up to Rs 3 billion once production of CBM from Raniganj is ramped up. The official also said that being an unconventional form of energy, China and Australia are giving support to CBM production in those countries by subsidising the sector to bring in more investors. He said CBM has the potential to displace 10 to 30 per cent of the annual requirement of LNG imports in the near term thus reducing import bills. See also: Shyam Steel plans to invest Rs 25 billion in Brownfield and Greenfield projectsNTPC eyes 10GW coal-based brownfield expansion

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code