Prabha Energy Begins Commercial Natural Gas Production at North Karanpura

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Project Milestone and Industry Impact:

- Prabha Energy Ltd has officially commenced commercial production of natural gas from the North Karanpura CBM Block, marking a significant step in India's unconventional gas sector.

- The North Karanpura CBM Block, located in Jharkhand, spans 271.8 sq km and is jointly operated by Oil and Natural Gas Corporation (ONGC), Prabha Energy Ltd, and Indian Oil Corporation (IOCL).

- The project is expected to enhance domestic gas supply, reducing reliance on imported LNG and supporting India's energy security goals.

Development Timeline and Production Outlook:

- The block was awarded to Prabha Energy in 2016, with development operations beginning in 2018-19.

- The field has undergone extensive drilling, with approximately 26 wells planned for full-scale production.

- Initial production estimates suggest a gradual ramp-up, with peak output expected by 2026, contributing to India's growing demand for cleaner energy sources.

Economic and Environmental Considerations:

- The project aligns with India's push for increased coal-bed methane (CBM) extraction, leveraging domestic reserves for industrial and residential consumption.

- Prabha Energy has emphasized stringent safety protocols, achieving zero lost-time injury rates since 2018.

- The development cost is projected at $76 million, with long-term economic benefits expected through job creation and regional infrastructure growth.

With commercial production now underway, Prabha Energy’s North Karanpura CBM Block is set to play a crucial role in India's natural gas landscape, reinforcing the country’s commitment to sustainable energy expansion.

Sources: Prabha Energy Ltd, Offshore Technology, ONGC Investor Disclosures.