Cabinet awards coal-bed methane gas blocksJune 24th, 2010 - 11:17 pm ICT by IANS
New Delhi, June 24 (IANS) The Cabinet Committee of Economic Affairs Thursday approved the awarding of seven exploration blocks for coal-bed methane gas blocks, with half going to Essar Oil.
Coalbed methane (CBM) or coal-bed gas is a form of natural gas extracted from coal beds and this was the fourth round of such auctions, launched on April 9, 2009, covering 10 blocks spread across 5,000 sq km.
A government statement said half the blocks have been awarded to Essar Oil, with Australian firm Arrow Energy getting two blocks. Arrow has tied up with state-run Oil India for one block and another with Tata Power company.
The Great Eastern Energy Corp will also receive one CBM block.
A total of 27 bids were received for eight blocks under the fourth round, with eight bids being rejected. Multiple bids were received for 7 Blocks and single bid for a block in Madhya Pradesh - the award for the latter has not been approved by the cabinet.
No bids were received for two blocks located in Wardha coal fields of Maharashtra.
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