ONGC to invest Rs 950 cr in WB, Jharkhand

Oil and Natural Gas Corp will invest Rs 950 crore for extracting gas from below the coal seams in Jharkhand and West Bengal from June 2007.

Oil and Natural Gas Corp (ONGC) will invest Rs 950 crore for extracting gas from below the coal seams in Jharkhand and West Bengal from June 2007.

The board of directors of ONGC has approved the investment in exploration and development of coal bed methane (CBM) in six blocks in Jharkhand and West Bengal, said a company press release.

‘‘With the formal board approval, ONGC has started the countdown for the first commercial production of CBM gas in India. The projected schedule for production is June 2007. An estimated peak production of 7.84 lakh cubic metres of gas per day is being targeted from the proposed development wells,’’ the release said.

Out of the projected expenditure, Rs 557 crore has been earmarked for the development of early CBM production in central Parbatpur area of Jharia block. An expenditure of Rs 392 crore has been approved for drilling, completion and testing of 22 pilot wells in Jharia, Bokaro and North Karanpura CBM blocks.

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