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Great Eastern Energy Corp Ltd Grabs 25% Stake In Oil and Natural Gas Corporation Ltd's Raniganj (North) Block-Business Standard

Monday, 20 May 2013 05:49am EDT 

Business Standard reported that Great Eastern Energy Corp Ltd has grabbed 25% stake in state-run Oil and Natural Gas Corporation (ONGC) Raniganj (North) Block in West Bengal through a competitive bidding process. The bidding processs was announced in January this year. Raniganj (North) Block is adjacent to the current Raniganj (South) Block of the Company in the state of West Bengal. The gas-in-place in the entire Raniganj (North) Block as per the Directorate General of Hydrocarbons (DGH) is 1.5 trillion cubic feet, the Company said in a statement to the London Stock Exchange. Great Eastern already has 100% ownership of the Raniganj (South) block.