Essar Oil to Ramp Up Output at Raniganj CBM block

Essar Oil plans to ramp up production of its coal-bed methane block at Raniganj in West Bengal to 3 mscmd by the end of financial year, 2013-14, chairman Shashi Ruia said on Thursday at the company’s annual general meeting, Newswire18 has reported.

“At Raniganj, our flagship CBM block, we are currently producing 43,000 standard cubic metre a day (scmd) of gas, which is scheduled to rise to 3 million scmd by the end of next fiscal, making us the largest CBM player in the country,” the news agancy quoted him as saying.

He said the company’s other blocks, which were at various exploratory stages, are also on track to achieve their milestones. “Going forward we expect E&P (exploration and production) to be a significant value creator for our business,” the chairman said.