ONGC and IOCL approve investment to the tune of Rs 8.23 billion to produce CBM

ONGC and IOCL have approved an investment of Rs 8.23 billion for the production of coal bed methane (CBM) of the BK-CBM-2001/1 block in Jharkhand. ONGC’s share in this investment will be Rs 6.58 billion. The project envisages the production of 4.068 billion cubic metres of CBM in 20 years with a peak of 0.9 million metric standard cubic metres per day (mmscmd) and a plateau production of 0.75 mmscmd. Production is expected to commence during 2017-18. The project comprises the drilling of 141 wells with multilayer hydro-fracturing and the installation of three production facilities.

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