After exploring the possibility of mining natural gas from the continental shelf in the Bay of Bengal, about 75 miles (120 kilometers) south of Haldia, for nearly 10 years, GAIL India Ltd relinquished the project. The Indian Bureau of Mines (IBM) has now recommended the gas block to a Chennai-based company. It is still not known when this company will start exploration at the site.
While the commercial rate for compressed natural gas (CNG) in Delhi is Rs 35.40 per kg and Rs 39.80 per kg in Noida, Greater Noida and Ghaziabad, auto LPG sells for Rs 53.05 per kg in Kolkata. When the concept of green fuel came up, it was realized that the prospect of supplying CNG to Bengal via pipeline from the country's west coast would be unviable.
There was hope when GAIL announced in 2005 that it has started drilling in a 'highly prospective gas block' in offshore Bay of Bengal along with its Russian consortium partner Gazprom. Extensive study of seismic data by international experts revealed the possibility of tapping multi trillion cubic feet of gas from the zone (known as Block 26).
According to sources, the block is nearly 4,025 square miles (10,425 square kilometers) and the water depth ranges from 131 to 164 feet (40 to 150 meters). It was estimated that prospective oil and gas horizons depth would extend to 21,325 feet (6,500 meters). Gazprom's subsidiary ZAO Gazprom zarubezhneftegaz got involved in what experts called a 'geologically challenging' task and in June 2010, drilled the third prospecting well. According to officials, the company met its obligations to GAIL by drilling the third well but the latter didn't seem too interested in continuing with the project.
GAIL officials in Delhi confirmed that the state-run company has 'officially relinquished' the project. Experts, however, said that this decision may not have been governed by the possibility of tapping gas or oil from the block. It may have been a policy decision to withdraw.
"Had it been decided that there is no viability in prospecting gas at Block 26, IBM wouldn't have recommended it while allotting 26 mineral bearing offshore blocks in the Bay of Bengal in 2011. The company has six blocks in the Bay of Bengal where it can start exploration. Even if the company starts exploration at Block 26 soon and finally decides to tap gas from there, the possibility of piping CNG to Haldia and the rest of the state will take a few more years," an expert said.
Copyright 2012 Bennett Coleman & Co. Ltd. All Rights Reserved
Source: RIGZONE
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