Essar Oil & Gas adds 5 CBM blocks and 6.6 Tcf gas
In short
Essar Oil & Gas acquired five coal-bed methane blocks across West Bengal, Madhya Pradesh and Telangana.
The company says the new area is about 1,281 square kilometers and holds around 6.6 trillion cubic feet of gas-in-place. The report does not say the deal price or when output will begin.
What the reporting says
Essar Oil & Gas acquired five coal-blend methane blocks across West Bengal, Madhya Pradesh and Telangana, with publisher-supplied reporting saying the expansion covers about 1,281 square kilometers and includes around 6.6 trillion cubic feet of gas-in-place. The company says it aims to raise domestic natural gas output and already produces nearly 50% of India’s CBM production. The report does not state the deal value or whether production will start immediately.
Why it matters
Essar Oil & Gas acquired five coal-bed methane blocks across West Bengal, Madhya Pradesh and Telangana, with reporting also citing about 1,281 square kilometers of new acreage and around 6.6 trillion cubic feet of gas-in-place. The company says the move is meant to support domestic gas production and adds to its large CBM position. What remains unknown is the financial terms, development timeline, and how much of the gas can actually be produced.