Reliance Energy & Consortium signs contracts for exploration and production of 4 coal bed methane blocks with the Union Ministry of Petroleum and Natural Gas

Reliance Energy Ltd has announced about the following:

1. The Company along with its consortium on November 07, 2006 signed Contract with Ministry of Petroleum and Natural Gas (MoPNG) for exploration and production of four Coal Bed Methane (CBM) blocks.

2. The consortium led by Reliance Natural Resources Ltd (RNRL) has been awarded following four CBM blocks by MoPNG covering an acreage of 3266 sq. kms.

a. BS (4)-CBM-2005/III in Rajasthan
b. BS (5)-CBM-2005/III in Rajasthan
c. KG (E)-CBM-2005/III in Andhra Pradesh and
d. SP (North)-CBM-2005/III in Madhya Pradesh

3. The committed minimum work programme consisted drilling of coreholes (depth of each well in meters), number of wells to be drilled and sampling and analysis of coal coreholes. The estimated amount to complete the committed activities in Phase I for each block is Rs 25 to 27 crore.

Source : Equity Bulls

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