Kolkata, Aug 8 (IANS) Integrated energy firm Essar Energy has set a target of extracting 1 trillion standard cubic metres per day of coal bed methane (CBM) gas from 600 wells in West Bengal's Asansol-Durgapur region, an official said Wednesday.
The company, which is currently producing 28,000 standard cubic metres per day of CBM from 50 wells around the Durgapur region, expected that in another 18 months from now it will have at least 300 exploratory wells.
The company, however, could not give a definite dateline to attain the production target of extracting 1 trillion standard cubic metres per day of CBM.
The company has planned investment of Rs.3,000 crore despite uncertainties in gas pricing, Essar Energy project director Shashank Shekar told reporters here Wednesday.
According to an Essar official, although there were proposals from various industries for supply of gas, most of the industries were unable to ascertain volumes because of the indecision on prices.
Meanwhile, Matix Fertiliser and the West Bengal State Transport Corporation have expressed interest to take gas from Essar but none could ascertain quantities because of unknown prices.
Essar is also in talks with the state power department for supplies of gas to a power project, but nothing has been finalised as everyone was waiting for the Petroleum and Natural Gas Regulatory Board to come out with the final prices.