GEECL to invest Rs 2,500 crore to raise production

Great Eastern Energy Corp

Great Eastern Energy Corp Ltd (GEECL) CEO Prashant Modi said the company will invest up to Rs 2,500 crore over the next three to four years to raise output.

GEECL, which is India’s first producer of natural gas from coal seams, has planned the planned capex of Rs 2,000-2,500 for drilling 144 new wells and laying internal pipelines in its Raniganj block in West Bengal.

According to Modi, the company has so far drilled 156 wells on the block which has gas reserves of 2.6 trillion cubic feet in place,.

GEECL, the first to start coal-bed methane (CBM) production in India in 2007, produces 0.57 million standard cubic metres of gas a day at the Raniganj block. “Eventually, it will rise to 2.5-3 mmscmd,” the chief executive officer said .

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Author: Research Desk