“We have invested Rs 3,300 crore at our Ranigunj CBM block and already achieved one million scmd production. We will have to pump additional Rs 700-1,000 crore to reach the peak projected production of three million scmd capacity,” Essar Exploration & production CEO Manish Maheswari said here on Wednesday.
The company expects to reach production to three million scmd by mid of next financial year 2017-18.
Maheswari said, “We will put our energies in shale gas once the detailed guidelines and clarifications from Director General of hydrocarbons comes.”
Maheswari, however, did not divulge the investment that could go in for shale form of unconventional gas since it is at a preliminary stage.
However, the company is optimistic on the Hydrocarbon Exploration Licensing Policy of March, 2016 and has already begun preliminary work on it.
According to estimates, 8 tcf shale gas has been found at Raniganj coal block.
The West Bengal government is expected to reap a handsome Rs 2,500 crore as royalty from this CBM block.
