Essar Oil and Gas Exploration and Production (EOGEPL), a subsidiary of Essar Group, has unveiled intentions to allocate Rs 3,000 crore towards enhancing gas output at its Raniganj coal bed methane (CBM) block in West Bengal. The investment endeavor targets a surge in gas production to five mscmd by fiscal year 2029, surpassing existing levels.
EOGEPL is one of the leading players in the oil and gas sector, specializing in exploration, production, and distribution of hydrocarbon resources. It operates across diverse geographic regions, employing cutting-edge technologies and innovative strategies to maximize resource extraction and optimize operational efficiency. EOGEPL adheres to stringent safety standards and implements responsible practices throughout its operations.
Through strategic partnerships and investments in research and development, EOGEPL continues to expand its portfolio and enhance its capabilities in the ever-evolving energy landscape. With a focus on delivering value to stakeholders while minimizing environmental impact, EOGEPL remains at the forefront of the oil and gas industry, driving growth and sustainable development.
With an initial investment of Rs 5,000 crore already made, the company is poised to inject an additional Rs 2,500 crore into its operations, aiming to significantly enhance its output and contribute a notable five percent share to India’s total gas production within the forthcoming five years. Over the fiscal year of 2025, the company is strategizing to drill a total of 200 wells, channeling Rs 700 crore into this endeavor.
Following this milestone, a subsequent allocation of Rs 1,800 crore is earmarked for the drilling of an additional 200 horizontal wells by fiscal year 2027, further amplifying gas production capacity. Holding a commanding stake, estimated at around 65 percent, of India’s overall Coal Bed Methane (CBM) production, the company envisions itself as a pivotal player in shaping India’s energy landscape for the foreseeable future.
CBM, renowned for its potential to expedite the transition towards cleaner energy alternatives, boasts significantly lower carbon emissions compared to conventional sources such as coal, diesel, and propane. The Indian government’s commitment to this endeavor is evident in its allocation of 21,117 sq km of area for CBM exploration, with exploration activities already underway in 39 blocks covering 10,670 sq km.
