During a press conference here in West Bengal's Durgapur city, Essar Energy's CEO (Exploration & Production-E&P) Manish Maheshwari on Wednesday announced the company's achievement of crossing the 1 million scmd milestone.

 

"CBM offers a new energy frontier as India evolves to a gas based company. Delivering 1 million scmd from Raniganj (East) Block marks the beginning as the potential is tremendous. We have targets to produce CBM at the rate of 2 million scmd by March 2017 and to reach a plateau of 3 million scmd by middle of 2017-18," Maheshawri said.

 

"The Raniganj (East) Block has sizeable CBM reserves with 25 to 30 years of field life. With a cumulative investment of 3300 crores rupees till date, Essar Energy has drilled and fracked nearly 300 wells and established an infrastructure to produce, condition, compress and deliver CBM gas to the industrial consumers in Durgapur," he further added.          

 

The Essar Group will invest additional 1000 crores rupees in West Bengal to achieve the next goals.

 

(Reporting by Deepayan Sinha)