Essar plans to invest Rs 2,000cr in Bengal鈥檚 brownfield project
28 Apr 2023
2 Min Read
CW Team
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鈥檚 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.
鈥淲e 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 鈥�, 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鈥檚 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鈥檚 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.
鈥淲e 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 鈥�, 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鈥檚 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
Next Story
Viva ACP Secures EPD Certification for Sustainable Cladding
Viva, Asia鈥檚 largest manufacturer of aluminium composite panels (ACP), has announced the successful release of its Environmental Product Declaration (EPD) under the International EPD庐 System. This milestone affirms Viva鈥檚 commitment to sustainability, transparent environmental reporting, and eco-conscious manufacturing. The certification covers Fire-Retardant (FR) Class A2, FR Class B1, and Non-FR ACPs, assessing the environmental performance of 1m虏 of Viva ACP (4mm thick) throughout its lifecycle鈥攆rom raw material extraction to end-of-life recycling. The EPD reveals that up to 95..
Next Story
StarBigBloc Gets Shareholders鈥� Nod for IPO to Fund Expansion
StarBigBloc Building Material, a wholly owned subsidiary of BigBloc Construction Ltd (BSE: 540061), has received shareholder approval to raise funds through an Initial Public Offering (IPO). The move is aimed at unlocking shareholder value, securing growth capital, and potentially enhancing the overall valuation of BigBloc Construction. The IPO proposal was approved during the company鈥檚 Extraordinary General Meeting (EGM) held on 13th June 2025. The process remains subject to regulatory approvals, market conditions, and other applicable clearances. 鈥淭his is a significant mileston..
Next Story
RentenPe and Mygate Partner to Transform Rent Payments in India
Through a strategic partnership, RentenPe and Mygate aim to streamline rent payments and promote financial inclusion by enabling rent-based credit scores for Indian renters. RentenPe, India鈥檚 first Rent Credit Score鈩� platform and a pioneer in rental fintech innovation, has entered a significant alliance with Mygate, the leading community management app in the country. This partnership will transform rent transactions for millions of Indian households by embedding RentenPe鈥檚 payment and rent credit scoring technology directly within the Mygate app. With this integration, all ren..
