GEECL shale hunt pact
Great Eastern Energy Corporation Ltd (GEECL) has signed an amended petroleum mining lease with the Bengal government to kick off exploration and production of shale gas from the company’s Ranigunj South block in Paschim Burdwan district.
The company, India’s first commercial producer of coal bed methane, now plans to drill a few core wells to estimate the recoverable reserve and prepare a development plan. According to an initial estimate, the block has 6.63 trillion cubic feet of shale resource and recoverable reserve of 1.7 TCF.
“Hopefully a year from now, we should be in a position to assess the recoverable reserves and chalk out the development plan. We want to do it fast and in the most cost effective manner,” Prashant K Modi, managing director & CEO of GEECL, said.
