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Investment News
Essar Oil and Gas Exploration and Production Ltd (EOGEPL) will invest another Rs 2,000 crore in the next 18 to 24 months in its coal bed methane project in West Bengal’s Raniganj, an official said. The company earlier had already invested Rs 5,000 crore 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, told PTI that another investment of Rs 2,000 crore will be made for drilling 200 more wells in the next 18 to 24 months.
“We 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 “, Kalra said.
Source: Economic times, 08/05/2023