Essar Oil plans to invest around Rs 4,000 crore for developing its three coal bed methane (CBM) blocks in
Jharkhand, Gujarat and West Bengal, having recoverable gas reserve of close to
seven trillion cubic feet (tcf) in the next three years.
According to sources, Essar
has already spent Rs 150 crore for exploration at these CBM blocks.
Essar is operating Rajmahal
block (4.7 tcf) in Jharkhand, Mehsana block (0.75 tcf) in Gujarat and Raniganj
block (1 tcf) in West Bengal. Gas flow from Raniganj block has already started,
and it is likely to sale by early April.