EOGEPL plans to invest Rs 20 billion in Raniganj CBM block

Essar Oil and Gas Exploration and Production Limited (EOGEPL) is planning to invest Rs 20 billion in the coming 18-24 months for drilling 200 wells for the Raniganj coal-bed methane (CBM) block, in order to strengthen its position as one of the leading players in unconventional hydrocarbons. The drilling of additional 200 wells is likely to increase the contribution to total CBM production from the block from present 65 per cent to 90 per cent. Besides, EOGEPL plans to explore new frontiers, including shale gas exploration. EOGEPL has earlier invested Rs 50 billion in exploring and commercially developing the Ranigunj CBM block, and they had already commissioned nearly 350 wells. The Raniganj CBM block in West Bengal is producing 0.9 million standard cubic meters of gas per day.