Essar Oil and Gas Exploration and Production Ltd (EOGEPL), India’s leading Coal Bed Methane (CBM) gas producer, today said it has signed a Memorandum of Understanding for collaboration with the prestigious IIT (Indian School of Mines), Dhanbad, to jointly work on research and development of various advanced CBM technological innovations indigenously.
EOGEPL, an investee company of Essar Global Fund Limited (EGFL), is one of India’s largest operator of unconventional hydrocarbon acreages. EGFL’s investments in EOGEPL are a part of its portfolio of Essar Capital’s upstream business, which is increasingly focused on clean energy. As energy transition happens in the world, CBM gas is widely seen as green fuel of this century.
IIT(ISM) a premier Institute of National Importance located at Dhanbad, was founded in 1926. Currently, the Institute has a wide spectrum of 18 branches of Engineering, Applied Sciences, Management Studies and Humanities, but the core lies in its state of the art Mining, Geology and Petroleum sector, the initial departments to be set up. The location of the Institute at the heart of Damodar Valley Coalfields (Dhanbad) and approximately 100 km from EOGEPL Raniganj CBM block offers an inherent strategic advantage to the partnership.
“We at Essar are very excited to have IIT (ISM) Dhanbad as our preferred partner for new age R&D in the space of advanced exploration and development in the area of CBM. It is a unique milestone for us as it is the best partner in the country to join hands with when it comes to R&D in oil and gas sector. We look forward to have a great academic and practical discourse with the top institution and path breaking research in the field of CBM gas,” said Mr. Santosh Chandra, CEO, EOGEPL.