REUTERS - Essar Energy Plc said it has received environmental clearance for a coal bed methane gas field in Raniganj that will allow it to increase production to 3 million standard cubic metres of gas per day (scmd) from 60,000 scmd there.
The power plant operator and oil refiner said on Monday the clearance from India's ministry of environment and forests will allow it to drill 650 wells at its wholly owned-Raniganj block in Damodar Valley coal field of West Bengal.
So far Essar has drilled 135 wells in Raniganj, of which 57 are in production.
Shares in the company closed at 136.4 pence on the London Stock Exchange on Friday.
(Reporting by Karen Rebelo in Bangalore; Editing by Joyjeet Das)
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