Oil and Natural Gas Corporation (ONGC) is planning to spend Rs 3,500 crore in extracting gas lying below coal seams (CBM) in three coal-bed methane blocks in eastern India. The State-owned company will drill over 350 wells in three blocks in Jharia, Bokaro and North Karanpur in Jharkhand.
A fourth block in Ranigajan North in West Bengal may be relinquished as it may fall in way of a planned air-strip. The company board has approved an investment of Rs 1,200 crore in the Bokaro block to produce a peak gas of 0.7 mmscmd.
ONGC is an Indian multinational oil and gas company headquartered in Dehradun, India. It is India’s largest oil and gas exploration and production company.
| Company Name | CMP |
|---|---|
| ONGC | 279.25 |
| Oil India | 454.40 |
| Jindal Drilling&Inds | 535.85 |
| Deep Industries | 457.70 |
| Asian Energy Service | 297.85 |
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