GEECL to invest $2 billion in its Raniganj (South) block

Great Eastern Energy Corporation Limited (GEECL) is planning to invest $2 billion in its Raniganj (South) block to explore shale reserves in the block. The first half of 2019 will be used for drilling core wells, after which some pilot production wells will be drilled. GEECL will then start working on the field development plan. A cumulative investment of $2 billion will be made on the block over the next 10 years. As per estimates, the block holds shale resources of 6.63 trillion cubic feet (tcf) under a high estimate, 3.51 tcf under the best estimate, and 1.4 tcf under a low estimate.