Essar Oil has Commences Improvement and selling of CBM gas from its Raniganj CBM block in Western Bengal, Essar Oil, COO Prem Sawhney said. Currently the organization is generating 90,000-100,000 million standard cubic metres per day of gas from fuel bed methane and expect to accomplish peak output of over 3 million standard cubic metres per day in 2-3 years, he said, including development from the block will last 15 years. The gas is marketed to a local fertilizer plant at US $4.2 per million British thermal units. Essar Oil is investment US $300 million for CBM gas development and it programs to drill 500 wells over 2-3 years.
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GVK Power & Infrastructure, exploring the oil and gas sector through its New Exploration Licensing Policy (NELP)-VII, plans to outline a road map for its oil and gas projects. The company will frame its plan by joining hands with the Australia based oil and gas exploration major BHP-Billiton. Under NELP-VII, the consortium has already acquired 34,000 km area for its offshore fields on the west coast of the country. Of the seven blocks attained, one is located in the Kerala-Konkan region and the rest of the six deepwater blocks are in Mumbai.
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In a move to expand its market, the Russian oil giant, Gazprom now mulls to develop terminals to development liquefied natural gas as well as distribution networks in Japan.
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