London-listed Coal Bed Methane (CBM) producer Great Eastern Energy Corporation (GEECL) today announced it plans to invest $2 billion in its Raniganj (South) block to exploit shale reserves.
“The investment cycle in the coming 2-3 years will be low. The first half of next year will go in drilling core wells, post which we will drill some pilot production wells and will start working on the field development plan.
A cumulative investment of $2 billion will be made in the coming 10 years,” Managing Director and Chief Executive Officer (CEO) Prashant Modi told ETenergyworld. Read More