(PTI)
State-owned Oil and Natural Gas Corp has sold natural gas from three coal-bed methane (CBM) blocks in Jharkhand for a price ranging between USD 5.77 per million British thermal unit to USD 6.12 per MMBtu.
ONGC sold gas from its Bokaro CBM block to a private industry, H N Roy, for USD 5.77 per MMBtu on a gross calorific value basis, sources with direct knowledge of the development said. State gas utility GAIL India Ltd will buy gas found below coal-seams in the North Karanpura block at USD 5.56 per MMBtu while private sector Positron Energy Pvt Ltd would offtake gas from Jharia CBM block at USD 6.12 per MMBtu.
ONGC is to start production from the three blocks by next month with the peak volumes touching 3 million standard cubic meters per day. Sources said the company has already drilled six wells on Bokaro block and the 7th well was in progress. A total of 30 wells are planned to be drilled during 2018-19
