Essar Oil and US-based Gardes Energy Services, has signed a joint venture agreement aimed at ushering in a technology revolution in coal bed methane (CBM) exploration and development by bringing advanced drilling technology to India.
Essar Oil has also entered into a collaborative technical alliance with Providence Technologies Inc (US), which specialises in crossbore seismic survey. The technologies are being brought in to develop Essar Oils Greenfield CBM project at Raniganj coalfields in West Bengal.
Essar Oil was allotted the virgin coal block at Raniganj coalfield about three years ago for commercial exploitation of CBM. The company had not been able to begin the exploratory work due to non-availability of a cost-effective technology. Mr Sethi said that the exploratory drilling would begin immediately after the monsoons.
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| Posted : 6/22/2006 |
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