Dart Energy, JSPL Win Bids for ONGC CBM Blocks

Dart Energy and consortium of Jindal Steel and Power (JSPL) and Deep Industries have won bids ONGC’s coal bed methane blocks located in the eastern part of India.

This is in addition to GEECL which also won 25 per cent stake in the Raniganj CBM block.

Dart Energy won 10 per cent in Raniganj and 25 per cent in the Bokaro and North Karanpura Blocks, Business standard reported earlier this week. Jindal Steel and Deep Industries won 10 and 25 per cent stakes in the North Karanpura and Bokaro blocks, respectively, the financial daily said.

An executive in one of the companies said: “Investment details in the block would be finalised at a later stage. First, we need to seek various approvals. This may take almost a year.”.

According to ONGC estimates, the Jharia block holds 85 billion cubic metres (bcm) of gas reserves. While North Karanpura holds 62 bcm, Bokaro holds 45 bcm and Raniganj North holds 43 bcm.