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Friday, Feb 07, 2003

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ONGC bullish on Raniganj CBM field

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NATURAL gas enough to power the Capital for about four hours a day is to be produced by Oil and Natural Gas Corporation Ltd (ONGC) from its coal bed methane (CBM) field in Raniganj, West Bengal.

"The Raniganj south block is likely to begin producing 1.5 million standard cubic metres per day (mmscmd) of gas from the coal bed," the Petroleum Minister, Mr Ram Naik, said here on Thursday. The Minister was present at the signing of licence agreements for two blocks in north Raniganj, West Bengal and Jharia, Jharkhand by a consortium of ONGC and Coal India Ltd (CIL).

ONGC has already spent about Rs 30 crore in the Jharia block and about Rs 4 crore in the Raniganj block. These blocks are expected to yield about one mmscmd and 2 mmscmd, respectively, in about two years' time. The initial investment in these blocks is estimated to be about Rs 200 crore.

With this, India is set to become the fourth after the US, Australia and China to join the CBM producing nations.

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