India - The Ruiasled energy major Essar Oil on Friday said its coal-bed methane blocks actually contain about seven trillion cubic feet (TCF) of recoverable gas, over twice than earlier estimates, which industry values at over $4 billion.
“Essar’s exploration and production business is set to become a major wealth creator for Essar Oil. Based on the draft reports, we have recoverable resources of seven trillion cubic feet,” the company said. Essar had engaged international consultants to assess reserves, which were previously estimated to hold recoverable gas resources of about three trillion cubic feet.
Reported by Cristina Gallardo, write to
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Related information
- GE Expands Relationship with Smart Grid Company SynapSense Through Investment, Partnership to Cut Data Center Power and Cooling Costs
- Putin hails Russian gas reserves as Austria joins South Stream project
- ExxonMobil Chemical's Vistamaxx™ Propylene-Based Elastomers Add Value to Flexible Films
- AGA: US gas reserves climbed to 250 tcf at yearend 2009
- Turkmengeologia discovers new large gas reserves in Minara field
- Investing in the UAE: GE and ADAT Expand Gas Turbine Repair Services Capabilities in the Middle East
