Shale gas exploration: State may see Rs 15K cr investment

Kolkata: The Great Eastern Energy Corporation Limited (GEECL) is mulling to invest Rs 15000 crore in exploration of shale gas in Ranigunj South block.

GEECL is waiting for the extraction lease from the state government. After getting the lease, the company will dug up a few wells there.

GEECL is extracting since Coal Bed Methane (CBM) from Ranigunj South block since 2007.

Prashant Modi, Managing Director of GEECL, informed that around 6.63 trillion cubic feet of shale gas might be found in this block.

Initially, the company will drill some pilot production wells.

If the pilot production succeeds then the company will invest the amount mentioned to extract the shale gas and commercialise the same.

It may be mentioned that ONGC is putting more stress on finding oil and natural gas in the Ashoknagar of North 24 Parganas. For this, the agency has already announced Rs 500 crore investment within three years.