Online edition of India's National Newspaper
Saturday, Mar 04, 2006
Online edition of India's National Newspaper Saturday, Mar 04, 2006 |
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Special Correspondent
NEW DELHI: Petroleum Minister Murli Deora announced here on Friday that the Oil and Natural Gas Corporation (ONGC), Reliance Industries and Great Eastern Energy Corporation had discovered over six trillion cubic feet of gas reserves below the coal seams. He said the exploration work so far had exceeded expectations with the three operators having established this level of in-place gas reserves. Addressing a roadshow to showcase the latest round of bidding for ten coal bed methane (CBM) blocks, he said the three companies were carrying out exploration for methane gas lying below the coal seams in various CBM blocks. With 16 CBM blocks having been offered for exploration till now, he said the first commercial production from these blocks was expected to begin in 2007. On the current round, he said the entire bidding process including bid evaluation, award and contract signing would be completed within four months from receiving bids for the third round of the CBM policy. The Petroleum Minister assured prospective bidders that the government would pro-actively facilitate investments in the CBM as well as the entire hydrocarbons sector.
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