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 Transport

JNPA Becomes First Indian Port to Cross 10 Million TEU Capacity

The Jawaharlal Nehru Port Authority (JNPA), located at Uran in Navi Mumbai, has become the first port in India to achieve over 10 million TEUs (twenty-foot equivalent units) in container handling capacity.With the recent expansion, the port now operates five container terminals with a combined capacity of 10.4 million TEUs, alongside two liquid and two general cargo terminals.Handling more than half of India’s container traffic, JNPA processed 7.05 million TEUs in 2024 and has moved 15.39 million tonnes of containers and 16.64 million tonnes of total cargo in the first two months of FY 2025â..

Next Story
Infrastructure Transport

Nod for Rs. 36.26 billion Expansion of Pune Metro Line 2

The Union Cabinet has approved the Rs.36.26 billion expansion of Pune Metro Line 2, adding 12.75 km of track and 13 new stations to improve east–west connectivity across the city.The project aims to link Pune’s urban core with rapidly growing suburbs, supporting the city’s rising demand for efficient and sustainable transport solutions. This expansion is part of Corridor 2 of the Pune Metro and includes two key routes: Vanaz to Chandani Chowk (Corridor 2A) and Ramwadi to Wagholi/Vitthalwadi (Corridor 2B).It will connect residential, IT, and educational hubs in areas such as Bavdhan, Koth..

Next Story
Infrastructure Transport

Assembly begins for ‘Nayak’ TBM on Thane– Borivali Twin Tunnel Project

The assembly of ‘Nayak’, the first of four Tunnel Boring Machines (TBMs) for the Thane–Borivali Twin Tube Tunnel Project, has commenced at the Thane site. Built by German firm Herrenknecht AG and deployed by Megha Engineering & Infrastructure (MEIL), the TBM marks a key milestone in Mumbai’s ambitious 11.8-km underground road corridor beneath Sanjay Gandhi National Park.The twin tunnels will reduce the Thane–Borivali travel distance by 12 km and decongest Thane Ghodbunder Road. ‘Nayak’, with a 13.2-metre diameter, is designed to bore through challenging geological conditions ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?