Essar Oil plans to acquire around 1,000 acre land to drill 500 wells for the Rs 3,000-crore coal-bed methane (CBM) project at the Ranigunj block, according to a top official.
Category: Oil & Gas
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Cairn India to raise output from Barmer fields
Cairn India is working on raising crude oil production from its Barmer fields in Rajasthan. The company’s production from Rajasthan has reached 175,000 barrels a day and the
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OVL eyes stake in Arctic Ocean projects
Reports suggest that ONGC Videsh (OVL) is interested in picking up stake in the oil and gas exploration projects in Arctic Ocean and expand in Siberia and Far East Russia.
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Shale gas exploration
Cairn India plans to bid for shale acreages once the bidding process starts by 2013. According to the proposed policy, the contractor will also be exempted from payment of cess on shale oil.
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ONGC to sell stake
ONGC will shortly farm out nearly 26 per cent stake in its KG-DWN-2004/6 block in the Krishna-Godavari basin to Japan’s Inpex Corporation.
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14,000 km gas pipeline
According to a government statement, 14,000 km of natural gas pipeline infrastructure is under various stages of implementation in the country.
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GAIL cuts stake in ONGC proj
GAIL India has cut its equity stake in ONGC’s Dahej mega petrochemical project to 15.5 per cent after project cost further escalated by 9.5 per cent.
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KPT to set up oil jetty
Kandla Port Trust (KPT) plans to set up a Rs 233 crore oil jetty on build, operate, transfer (BOT) basis under public private partnership (PPP) mode.
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Centre plans debt restructuring for discoms
The Union Government has favoured rolling out restructuring package for power distribution companies (discoms).
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RIL-BP gas to AP
Reliance Industries and BP India are in talks with gas-starved power projects of Andhra Pradesh to supply long-term liquefied natural gas (LNG).