Essar to tap foreign firms to explore Bengal block

 The block has nine key boreholes and expected to have CBM resources of at least 1.5 TCF and coal reserve of 7.9 billion tonne.

 Essar is also finalising the petroleum exploration licence (PEL) deed which was provided by the government of West Bengal in a draft form and the contract for the block will become effective once the PEL deed is signed. This will enable Essar to start physical geoscientific activities at the said block.

 In a detailed presentation to the ministry of petroleum and natural gas officials in Mumbai during first half of this month, officials of the exploration & production (E&P) division of the company, also said that proposals from three US-based internationally renowned consultancy firms already have been received.

 The proposal are being vetted and clarifications are being sought in respect of the plans. Though the officials were not available for comments on the issue, a source close to the company said Essar has already zeroed in on Advanced Resources International, USA, PetroTel Inc and Questa Engineering, USA, which all have proven track record in the CBM exploration and production.