Essar Oil finds more gas reserves at India’s Raniganj CBM block

Jan 23, 2012 12:00 AM

Essar oil, a subsidiary of Essar Energy, said the proven and probable reserves as also contingency resources at its Raniganj coal bed methane (CBM) exploration block in West Bengal has significantly increased.
The total proven and probable reserves (2P) at Raniganj, evaluated as of 1 September 2011, was 18.8 mm boe, while best estimate contingent resources (2C) are 445 bn cf, or 74.1 mm boe.

Essar Oil had earlier, in December 2009, projected proven and probable reserves at the Raniganj CBM block at 201 bn cf or 34 mm boe of 2C resources. Both these evaluations were carried out by independent international consultants, Netherland, Sewell and Associates (NSAI), Essar Oil said in a release.
The latest evaluation also shows that there also remains 297 bn cf gross, or 49 mm boe of best estimate prospective resources of gas at Raniganj, it said.

"This revised evaluation of gas resources at Raniganj underlines the potential of the block. Gas is in short supply in India but will be an increasingly important fuel and we are well placed to capitalise on that," Naresh Nayyar, deputy chairman of Essar Oil and CEO of Essar Energy, said.
The Raniganj CBM block currently produces around 22,000 cm of gas every day. The company said it has reduced flaring to the maximum and is currently undertaking test sales through a 48-km pipeline to the Durgapur industrial estate. Full commercial production is likely to be achieved soon and the company is expects peak production of 3.5 mm cmpd.

Essar Oil has 100 % stake in the Raniganj CBM block covering 500 sq km.
The company has also the largest acreage of CBM blocks in the country, with a 10 tcf of gas resources spread over five blocks.

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