Great Eastern Energy Corp (GEECL), the fully integrated, Indian Coal Bed Methane (CBM) company, has won a 25 per cent stake in ONGC's Raniganj (North) Block in West Bengal.
ONGC had offered the block in January 2013 through a competitive bidding process. Raniganj (North) Block is adjacent to the current Raniganj (South) Block of the company.
The Gas-in-Place in the entire Raniganj (North) Block is 1.5 trillion cu ft. Great Eastern already has 100 per cent share in the Raniganj (South) block. ONGC has accepted the offer of GEECL on 17 May 2013, which is subject to execution of farm-in related and joint operatorship agreements with ONGC along with its consortium and the approval from the Government of India.
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