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INDIA: Joint venture construction plans for proposed $205,000,000 coal bed methane (CBM) project, OIL & NATURAL GAS CORPORATION LTD. (ONGC) & COAL INDIA [India] Order #: 063006.
WWP-Business Opportunities in Asia & the Pacific, June, 2006
PROJECT OVERVIEW
An Indian joint venture is currently gearing-up to extract coal bed methane (CBM) in Jharkhand, West Bengal, India. The partners in the planned undertaking and their respective shareholdings include OIL & NATURAL GAS CORPORATION LTD. (ONGC - 74%) and COAL INDIA (26%).
As things currently stand, ONGC's Board of Directors has approved the company's $205,000,000 investment for exploration and development of CBM in 6 blocks in 2 states. Operating plans envision a peak production of 784,000 cubic meters of gas per day from the proposed development wells. Out of the projected expenditure, some $120,000,000 has been earmarked for the development of early CBM production in the Central Parbatpur area of Jharia block.
An expenditure...
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