Essar is going to invest Rs 700-1,000 crore in West Bengal for increasing coal-bed methane (CBM) production at Ranigunj although it could jump significantly if shale opportunity opens up.
Manish Maheswari, Essar Exploration & production CEO has said that “We have invested Rs 3,300 crore at our Ranigunj CBM block and already achieved one million scmd production. We will have to pump additional Rs 700-1,000 crore to reach the peak projected production of three million scmd capacity.”
The company aims to reach the production to three million scmd by mid of next financial year 2017-18.
He further said that “We will put our energies in shale gas once the detailed guidelines and clarifications from Director General of hydrocabons comes.”
