Business Daily from THE HINDU group of publications
Saturday, Nov 18, 2006

Cross Currency

Group Sites

Industry & Economy - Petroleum
BP signs production sharing deal for coal bed methane block

Our Bureau

For BB-CBM-2005/III block in West Bengal

With this, the production sharing contracts for all the 10 blocks offered under CBM-III have been signed.

New Delhi , Nov. 17

BP Exploration (Alpha) Ltd has signed the production sharing contract (PSC) for the 10th block awarded under the third round of coal bed methane policy (CBM-III) with the Government. BP inked the PSC for the block BB-CBM-2005/III located in the Birbhum district of West Bengal.

Production sharing

With this, the PSCs for all the 10 blocks offered under CBM-III have been signed, an official communiqué said.

The awarded block covers an area of 248 sq. km. with the prognosticated natural gas resources of 50 billion cubic metres (BCM). The contracts for other nine blocks were signed on November 7 with the other winning companies/consortia, including an Anil Ambani group company.

According to the Petroleum Ministry sources, awarding of a block to BP Exploration was delayed because negotiations were still under way with the awardee company.

The contract was signed by Mr D.N. Narasimha Raju, Joint Secretary in the Ministry of Petroleum and Natural Gas, and Mr Jonathan Evans, Exploration Director, South Asia Exploration, on behalf of BP Exploration (Alpha) Ltd.

Coal bed methane

CBM is an alternative source of hydrocarbons, which is extracted from the coal seams from the coal bearing areas.

With huge coal reserves in the country, the CBM extraction would supplement the conventional sources of natural gas to help in bridging the big gap between demand and supply of natural gas.

It will also make coal mining safer since the absence of methane would reduce chances of fire accidents in coal mines.

More Stories on : Petroleum

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Pact for funding infrastructure projects in TN

Centre finalising Act to regulate street hawking, says Minister
Sporty raffle
Cement sector remains positive
9 new Indian billionaires in Forbes' list
A rice variety that can earn carbon credits!
Higher fertiliser, wheat imports cause problems at Vizag
Kamal Nath hopeful of resolving EU issue
US trade teams to visit Kolkata
Kerala to form company for infrastructure
Kinfra plans food processing SEZ in Malappuram
India to re-negotiate gas price with Iran
MRPL: No discounts on LPG, kerosene
Foreign offshore ships to face tighter entry norms
Reliance, Videocon sign separate pacts in Timor
BP signs production sharing deal for coal bed methane block
Indo-US nuke deal: Final legislation awaited
Over 60,000 corporate tax returns e-filed
Texprocil signs pact with Uzbekistan
Symantec to reach out to SMEs via channel partners
Vendor development programme
Adobe India chief's kidnapped son rescued
TRAI gets response from 10 stakeholders
B-school students to visit Pak
PG course in nuclear engg
Stress on communication skills
Varsity in pact with San Diego B-school
Quality can't be sacrificed for quantity: Rangarajan
Managing management education
Malayalam Web site on education
`Globalisation offers scope for students to tap biz avenues'
Power sector to gain
`Economics is a fascinating discipline'
Vietnam, Pennsylvania woo Indian investors
New tourism policy on the anvil in Karnataka

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line