India is one of the fastest growing economies in the world with growing energy requirement.
On the other side, in terms of Oil & Gas, the country has been exporting more than 80% of its requirements and hence there is need to build a strong potential for Oil & Gas upstream business in a sustainable way.
The country also has a goal for a gas based economy creation targeting 15% gas in the energy mix in the next decade. Thus, with increased pipeline infrastructure and incentives, every molecule of gas produced is important marketable.
India is among the top four in Coal resource in the world and therefore gas stored in coal, called Coalbed Methane (CBM) has emerged as a prolific option. The country is expected to have a CBM resource of about 100 TCF, of which only 10% is under commercial development.
Therefore, TNRL has bid for two prolific CBM blocks in the South Rewa basin of Central Indian Gondwana coal belt. The blocks are 100% PI and operatorship of TNRL, are in close proximity to each other and together possess more than 2.5 TCF of net gas resources.