Essar Oil and Gas Exploration and Production (EOGEPL) aims to account for five percent of India’s cumulative gas production in the next five years, Director Prashant Ruia informed. Ruia, who is also the Director of Essar Capital, emphasised that the group’s $3.6-billion investment underscores its commitment to low-carbon technologies, including construction of one of the world’s largest low carbon (blue hydrogen) plants and the world’s first green refinery.
Ruia added, “As India emerges as the world’s fastest-growing and third-largest economy, Essar is dedicated to fulfilling climate commitments and promoting green growth. At the forefront is EOGEPL, India’s foremost player in the CBM sector, currently responsible for nearly 65 percent of the nation’s total production. EOGEPL is determined to raise its contribution to India’s overall gas output to five percent in the coming five years”.
EOGPL CEO Pankaj Kalra said, “Our team is consistently beating its estimates and delivering strong operating performance year on year, backed by ramp-up in gas production, and optimising and reducing internal consumption significantly. The current gas production is 0.9 million standard cubic meters per day (MSCMD), which is expected to grow to 2.2 MSCMD by FY25-end and further to 5.2 MSCMD by FY27 end”.
As per the press release, EOGEPL has a resource base of 12 TCF (trillion cubic feet) coal bed methane, or CBM, and shale gas resources. It has, so far, invested more than ₹5,000 crore in exploration and commercial development of the Raniganj CBM Block. It currently operates around 350 wells in the block and has adopted technology and stimulation techniques including re-fracs, microbial treatment and well automation to enhance gas production from the existing wells.
