The catch is that this is still a find of hydrocarbon presence; whether the basin will actually yield natural gas is still unknown, and even it does, it could take a decade for commercialisation
The government has cut the windfall tax on petroleum to Rs 5,700 per metric ton from Rs 8,400 w.e.f from May 16. Company to consider bonus share issue on 20 May.
Although officials couldn't estimate the extent of financial gain as a result of this project, the internal rate of return on CBM is projected to be extremely high