India's Prabha Energy receives US grant to develop CBM resources in India
Coalbed methane (CBM) exploration and production company Prabha Energy (PEPL) has secured a grant from the US Trade and Development Agency (USTDA) to develop resources in India.
The funding is expected to enable PEPL to conduct a feasibility study related to the development of CBM resources.
In a statement, the USTDA said: “CBM may represent a new source of clean-burning natural gas to be used as fuel by the local industrial, transportation and power sectors.”
US-based firm Advanced Resources International has been contracted by PEPL to carry out the feasibility study.
USTDA South and Southeast Asia regional director Henry Steingass said: “USTDA is excited to support Prabha Energy as it looks to develop an untapped energy resource.
“As India develops its CBM resources, US companies can provide the equipment and expertise to help India unlock CBM’s potential.”
Work on the feasibility study is expected to commence this year.
USTDA noted that drilling and associated works in connection with CBM exploration and development would present opportunities for American firms that specialise in drilling rigs, gas compression and processing equipment, as well as geophysical logging and perforation.
The agency facilitates export opportunities for US companies by funding project planning activities in partner countries.
PEPL has interests in both conventional and unconventional oil and gas opportunities.
The company has been selected to develop the North Karanpura CBM block in partnership with Indian oil firms ONGC and IOC.