Essar Oil plans Rs 4000-cr investment for CBM blocks - Business Standard

By
Viraj
on March 5, 2010 5:09 AM | | TrackBacks (0)
The Ruias-controlled Essar Oil plans to invest about Rs 4,000 crore in the next three years for developing its three coal bed methane (CBM) blocks in Jharkhand, Gujarat and West Bengal, having recoverable gas reserve of close to seven trillion cubic feet (tcf).

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“The existing recoverable gas would be valued about $4 billion at the current contract prices. With the commencement of CBM production in three blocks, Essar’s exploration and production (E&P) will be poised for a significant growth and the additional cash flow will help the company pay off the debts,” said an industry source. According to sources, the company has already spent Rs 150 crore for exploration at these CBM blocks.

Full Story: Essar Oil plans Rs 4000-cr investment for CBM blocks - Business Standard

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This page contains a single entry by Viraj published on March 5, 2010 5:09 AM.

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