New Delhi, Apr 11 (UNI) The Government was considering setting up a Coal Bed Methane (CBM) regulatory body and a meeting on the issue would be soon held with the concerned authorities, Petroleum and Natural Gas Minister Murli Deora said today.
He said the sixth round of the New Exploration Licensing Policy (NELP) would include the offer for ten CBM's exploration.
Till the last offer of the CBM, the country would produce an estimated 3.5 million tonnes oil equivalent to gas which would mainly be sold in areas where the pressure is low, Mr Deora said talking to newmen here.
These gases should be exploited before mining to reduce the chances of fire-related accidents in the coal mines, he added.
He said the Ministry was hopeful this round of offer would attract an investment of over seven billion dollar which would come within the first two years of signing of the Memorandum of Understanding (MoU) and more investment would come during the course of the next phase of five years.
''The Ministry is highly hopeful that this time we will be able to sell data worth over Rs 100 crore since it has been noticed that the maximum sales takes place during the last two days before the opening of the bid days and that will be in September,'' Secretary Petroleum M S Srinivasan said.
They had already sold data worth over Rs 40 crore to the prospective bidders for the NELP VI, he added.
The offer was going to witness the highest ever acrage of 3.55 lakh square kilometers, he said.
''Till the last bid offer the country will be producing an additional 650 MMT of oil and related products since the time period is of seven years so one can expect the first lot of production hitting the market in late 2007 as the first blocks were offered in the year 2000,'' Mr Srinivasan said.
The ten CBM's would be spread over at Godda-Pakur in Raj Mahal in Jharkhand, Birbhum in West Bengal, Surguja in Tatapani-Ramkola and Raigargh and Korba in Mand-Raigarh in Chattisgarh, Shahdol and Sidhi in Sohagpur and Singrauli in Madhya Pradesh, Khammam and Adilabad, Karim Nagar-Khammam in Kothagudem and Godavari North in Andhra Pradesh and Barmer-Jalore in armer district of Rajasthan.
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