Essar Oil Ltd, Arrow Energy with its consortium, and Great Eastern Energy Corporation, on Thursday signed production sharing contracts for the acreages awarded under the fourth round of Coal Bed Methane (CBM) blocks auctions. Agreements were signed for seven blocks. Essar Oil has bagged four blocks. Arrow Energy has signed contracts for two blocks in separate consortiums with Oil India and Tata Power, respectively. While Great Eastern Energy Corporation Ltd has won one block.
Speaking at the contract signing ceremony, the Minister of State for Petroleum and Natural Gas, Mr Jitin Prasada, said that “with the signing of seven CBM blocks, new areas totalling 3,727 sq km will become available for exploration and production of CBM resources of about 330.23 billion cubic metres.” “These blocks located in Assam, Jharkhand, Orissa, Madhya Pradesh, Chattisgarh and Tamil Nadu would bring committed investment of $158 million,” he said.
http://www.thehindubusinessline.com/2010/07/30/stories/2010073054060400.htm