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Essar Oil Ltd, has opened an exploration and production office at Durgapur for its coal bed methane operations. The infrastructure created by Essar Oil will be used by its team and house technologically advanced instruments to run its CBM operations in CBM gas fields in Raniganj block in the state.
Essar Oil recently received Phase-III environment clearance that allowed full field development of the Raniganj block and enables the company to increase production to around 3 million standard cubic metres per day. Essar Oil has invested about Rs 1500 crores in the block over the last four years.
Essar Oil has 100% interest in Raniganj block, which is a 500 sq.km block with total proven and probable reserves (2P), independently evaluated by consultants Netherland, Sewell and Associates Inc, of 113 billion cubic feet (bcf) gross (3.2 billion cubic metres), or 18.8 million barrels of oil equivalent.
There are also best estimate contingent resources (2C) of 445bcf gross, or 74.1 mmboe and 297 bcf gross, or 49mmboe, of current best estimate prospective resources.
