Essar Oil & Gas to Strengthen Ranigunj CBM Position
OIL & GAS

Essar Oil & Gas to Strengthen Ranigunj CBM Position

Essar Oil and Gas Exploration and Production aimed to strengthen its position as one of the leading players in unconventional hydrocarbons at the Ranigunj coal bed methane (CBM) block in West Bengal. The company had invested approximately Rs 50 billion in exploring and commercially developing the Ranigunj CBM block, and they had already commissioned nearly 350 wells.

The company was focused on exploring new frontiers, including shale gas exploration, which would further solidify their position as a major player in unconventional hydrocarbons in the region.

In the fourth quarter of the previous fiscal year, the company reported a net profit of Rs 830 million and a revenue of Rs 1.9 billion, with EBITDA reaching Rs 1.4 billion.

The company's future plans involve investing an additional Rs 20 billion over the next 18 to 24 months to drill 200 more wells. As a result, their contribution to total CBM production in the country, currently at 65 per cent, is expected to rise to 90 per cent after the drilling of the new wells, according to the spokesperson.

The spokesperson further highlighted the key priorities set by the company, which include field upgradation, adoption of new technologies, cost optimisation, and production enhancement.

Also read: 
Indian Mineral Production records positive growth in April 2023
India surpasses China in Coal-based Steel Capacity


Essar Oil and Gas Exploration and Production aimed to strengthen its position as one of the leading players in unconventional hydrocarbons at the Ranigunj coal bed methane (CBM) block in West Bengal. The company had invested approximately Rs 50 billion in exploring and commercially developing the Ranigunj CBM block, and they had already commissioned nearly 350 wells. The company was focused on exploring new frontiers, including shale gas exploration, which would further solidify their position as a major player in unconventional hydrocarbons in the region. In the fourth quarter of the previous fiscal year, the company reported a net profit of Rs 830 million and a revenue of Rs 1.9 billion, with EBITDA reaching Rs 1.4 billion. The company's future plans involve investing an additional Rs 20 billion over the next 18 to 24 months to drill 200 more wells. As a result, their contribution to total CBM production in the country, currently at 65 per cent, is expected to rise to 90 per cent after the drilling of the new wells, according to the spokesperson. The spokesperson further highlighted the key priorities set by the company, which include field upgradation, adoption of new technologies, cost optimisation, and production enhancement. Also read:  Indian Mineral Production records positive growth in April 2023India surpasses China in Coal-based Steel Capacity

Next Story
Infrastructure Urban

Tata Communications Revives Nagan Thangal Lake in Tamil Nadu

Tata Communications, in partnership with Pitchandikulam Forest, has rejuvenated Nagan Thangal Lake in Upparapalayam village, Tamil Nadu, transforming the 15.01-acre site into a thriving ecological and community hub. Launched in 2022 under *Project Nanneer* (“good water” in Tamil), the initiative has improved water security, biodiversity, and community engagement, as per a recent study by the Watershed Organisation Trust Centre for Resilience Studies (W-CReS). Once a vital but neglected water source for 2,800 residents, the lake’s capacity had dropped by 75 per cent. Through land shaping..

Next Story
Infrastructure Urban

PTC Industries Wins GTRE Order for Single Crystal Turbine Blades

PTC Industries Limited, a leading manufacturer of high-performance materials and precision-engineered components for aerospace and defence, has received a Purchase Order from the Gas Turbine Research Establishment (GTRE), Defence Research and Development Organisation (DRDO), for Post-Cast Operations to produce Single Crystal ‘Ready-to-Fit’ Turbine Blades. The announcement was made in the presence of Raksha Mantri Rajnath Singh and Uttar Pradesh Chief Minister Yogi Adityanath at the inauguration of PTC’s Titanium & Superalloys Materials Plant in Lucknow. This marks the first time an Indi..

Next Story
Technology

NCBA unveils East Africa’s first cloud-based corporate platform

Nairobi, 23 October 2025: NCBA Bank has launched Connect Plus, an advanced transaction banking platform powered by Intellect’s eMACH.ai Digital Transaction Banking solution, becoming the first bank in East Africa to adopt a cloud-based corporate banking system. The upgraded platform enhances transaction speed, payment flexibility, cash liquidity management, and integration with other financial platforms, offering a secure and intuitive experience for corporate clients. James Gossip, Managing Director, NCBA Kenya, said the launch aligns with Kenya’s Vision 2030 Digital Economy initiative,..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?