Indian state-owned Oil and Natural Gas Corporation has signed a memorandum of understanding with Arrow Energy for corporation in coalbed methane sector. The main areas of co-operation identified under the deal are joint participation in blocks in India and abroad for exploration, field development and production of coalbed methane.
Under the memorandum of understanding (MoU), Oil and Natural Gas Corporation (ONGC) and Arrow Energy will share knowledge, experience and technology in coalbed methane sector.
According to ONGC, In India, coalbed methane (CBM) resources are estimated at about 2.6 trillion cubic meters (tcm) to 3.3tcm. The government of India has awarded blocks for exploration, development and production of CBM to national and international companies under three bidding rounds. The company has been carrying out CBM activities in the states of Jharkhand, West Bengal, Madhya Pradesh and Gujarat.
Arrow Energy is an Australian integrated energy company focused on the development of CBM. The company is a global leader in coalbed methane (CBM) development with an expanding business presence throughout Eastern Australia, China, India, Vietnam and Indonesia. Oil and Natural Gas Corporation ia an Oil & Gas Exploration & Production Company in India.