Great Eastern Energy Corporation Limited is a
Coalbed methane
Coalbed methane (CBM or coal-bed methane), coalbed gas, coal seam gas (CSG), or coal-mine methane (CMM) is a form of natural gas extracted from coal beds. In recent decades it has become an important source of energy in United States, Canada, Au ...
production company, which is located in
Asansol district of
West Bengal. With two CBM blocks, one in
Raniganj at West Bengal and the other one in
Mannargudi at
Tamil Nadu, it has played an important role in providing methane gas. The wells dug in the respective blocks are well connected with Gas Gathering Stations and gas is fed into its dedicated steel pipeline network to maintain the supply.
It provides
Compressed Natural Gas through an agreement with
Bharat Petroleum Corporation Limited
Bharat Petroleum Corporation Limited (BPCL) is an Indian central public sector undertaking under the ownership of Ministry of Petroleum and Natural Gas, Government of India. It operates three refineries in Bina, Kochi and Mumbai. BPCL is I ...
and
Indian Oil Corporation Limited
Indian Oil Corporation Limited (IOCL; d/b/a IndianOil) is a central public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. It is headquartered in New Delhi. It is a public sector unde ...
.
History
It was founded in the 1990s. In 1993, the company entered into a
memorandum of understanding with
Coal India Limited. Followed by this, it carried out core-hole exploration as well as commercial viability tests. As the growth of the company progressed, it signed a Production Sharing Contract with the
Ministry of Petroleum and Natural Gas and a
petroleum exploration license with the
Government of West Bengal
The Government of West Bengal also known as the West Bengal Government, is the subnational government of the Indian state of West Bengal , created by the National Constitution as the state's legislative, executive and judicial authority. The ...
in 2001.
Initiating towards first production with three wells, the company struck gas in the first well by 2004. From that time, the company has been active in drilling wells and now claims to have two blocks (Raniganj South block and
Mannargudi block).
Business operations
• Raniganj North Block:
1. Block has 2.6244 TCF gas in place
2. 156 drilled wells
3. Dedicated Pipeline of 77.62 km through the Asansol-Durgapur industrial belt
• Mannargudi Block:
1. It has 0.98 TCF Gas in place
2. Single seam up to 80m
3. Plan to initially drill 50 core wells and 30 pilot production wells
Company officers and directors
On 23 September 2015 - Prashant Modi - Great Eastern Energy Corp Ltd (GEECL) announced the appointment of Prashant Modi as its new Managing Director and Chief Executive Officer.
Prashant Modi was President and Chief Operating Officer of the company which produces natural gas from coal seams (coal bed methane or CBM) in West Bengal.
Prashant Modi takes over the new role from his father, Yogendra Kumar Modi, who was the Chairman and CEO of the company.
Other Officers
* Yogendra Modi
* Ashok Jha
* S. Sundareshan
* Gurvirendra Singh Talwar
* Paul Zuckerman
* S. Suriyanarayanan
London Stock Exchange
As the only Indian company to have its primary listing on London Stock Exchange, GEECL has managed to establish its reputation on a global level. The
revenue of the company in 2010 was $2.47 million, which has increased to $33.79 million in 2014. Along with this, GEECL has also reflected a growth in
Earnings per share
Earnings per share (EPS) is the monetary value of earnings per outstanding share of common stock for a company. It is a key measure of corporate profitability and is commonly used to price stocks.
In the United States, the Financial Accounting ...
, from -$0.148 in 2010 to $0.17 in 2014.
References
External links
*
{{Energy companies and organizations in India
Oil and gas companies of India
Energy in West Bengal
1992 establishments in West Bengal
Indian companies established in 1992
Energy companies established in 1992
Companies based in Asansol