ONGC plans to spend Rs 3,500 crore for developing three CBM blocks

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.