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Essar signs MoU with IIT Dhanbad (ISM) for R&D in CBM gas exploration

·1-min read

New Delhi, Feb 17 (PTI) Essar Oil and Gas Exploration and Production Ltd (EOGEPL), India's leading coal seam gas producer, on Wednesday said it has signed a pact with IIT Dhanbad (Indian School of Mines) to jointly carry out research and development on coal bed methane (CBM) technologies.

The Memorandum of Understanding for collaboration provides for finding 'an effective solution for various technological and operational challenges faced during CBM exploration and production,' the company said in a statement.

EOGEPL, an investee company of Ruia-family owned Essar Global Fund Limited (EGFL), operates West Bengal's Raniganj CBM block, producing over 1 million standard cubic meters per day of gas.

IIT(ISM), a premier institute of national importance located at Dhanbad, was founded in 1926. The institute is located at the heart of Damodar Valley Coalfields (Dhanbad) and about 100 km from the Raniganj CBM block.

'It is a unique milestone for us as it is the best partner in the country to join hands with when it comes to R&D in the oil and gas sector,' said Santosh Chandra, CEO, EOGEPL.

EOGEPL has already invested over Rs 4,000 crore in the Raniganj East CBM Block towards drilling wells, setting up supply infrastructure, and laying customer pipelines to Durgapur and nearby industrial areas.

Raniganj has 1.1 trillion cubic feet (TCF) of certified CBM reserves.

EOGEPL aims to double its reserve base in the next few years, the statement said. PTI ANZ MR