Great Eastern Energy Corporation Limited is a

Coalbed methane ''Coalbed methane'' (CBM or coal-bed methane), coalbed gas, or coal seam gas (CSG) 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, Australia, and other co ...

(CBM) production company, located in

Asansol Asansol is a city in the Indian state of West Bengal. It is the second largest city in West Bengal. It is the 33rd largest urban agglomeration in India by population. Asansol is the district headquarters of Paschim Bardhaman district. Accordi ...

district of

West Bengal West Bengal (; Bengali language, Bengali: , , abbr. WB) is a States and union territories of India, state in the East India, eastern portion of India. It is situated along the Bay of Bengal, along with a population of over 91 million inhabi ...

. With two CBM blocks, one in

Raniganj Raniganj is a neighbourhood in Asansol of Paschim Bardhaman district in the Indian state of West Bengal. It is governed by Asansol Municipal Corporation. Geography Location Raniganj is located at . It has an average elevation of 91 me ...

, and the other in

Mannargudi Mannargudi () is a Municipality in Thiruvarur district in the Indian state of Tamil Nadu. It is the headquarters of the Mannargudi Taluk, Mannargudi taluk. The town is located at a distance of from the district headquarters Thiruvarur, 12 ...

Tamil Nadu Tamil Nadu (; , TN) is the southernmost States and union territories of India, state of India. The List of states and union territories of India by area, tenth largest Indian state by area and the List of states and union territories of Indi ...

. Great Eastern Energy Corporation has played an important role in providing

methane Methane ( , ) is a chemical compound with the chemical formula (one carbon atom bonded to four hydrogen atoms). It is a group-14 hydride, the simplest alkane, and the main constituent of natural gas. The abundance of methane on Earth makes ...

gas Gas is a state of matter that has neither a fixed volume nor a fixed shape and is a compressible fluid. A ''pure gas'' is made up of individual atoms (e.g. a noble gas like neon) or molecules of either a single type of atom ( elements such as ...

. The wells dug in the respective blocks are well connected with gas gathering stations and the gas is fed into its dedicated steel pipeline network to maintain the supply. It provides

compressed natural gas Compressed natural gas (CNG) is a fuel gas mainly composed of methane (CH4), compressed to less than 1% of the volume it occupies at standard atmospheric pressure. It is stored and distributed in hard containers at a pressure of , usually in ...

through an agreement with

Bharat Petroleum Corporation Limited Bharat Petroleum Corporation Limited is an Indian public sector oil and gas company, headquartered in Mumbai. It is India's second-largest government-owned downstream oil producer, whose operations are overseen by the Ministry of Petroleum and ...

and

Indian Oil Corporation Limited Indian Oil Corporation Limited (IOCL or IOC), trading as IndianOil, is an Indian multinational oil and gas company under the ownership of the Government of India and administrative control of the Ministry of Petroleum and Natural Gas. It is a ...

History

It was founded in the 1990s. In 1993, the company entered into a memorandum of understanding with

Coal India Limited Coal India Limited (CIL) is an Indian public sector undertaking and the largest government-owned coal producer in the world. Headquartered in Kolkata, it is under the administrative control of the Ministry of Coal, Government of India. It acc ...

. 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 The Ministry of Petroleum and Natural Gas (MOP&NG) is a List of Indian agencies, ministry of the Government of India responsible for the exploration, production, refining, distribution, marketing, import, export, and conservation of petroleum, ...

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 Administrative division, principal administrative authority of the States and union territories of India, Indian state of West Bengal, created by the Constitution ...

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

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 managed to establish its reputation on a global level. The

revenue In accounting, revenue is the total amount of income generated by the sale of product (business), goods and services related to the primary operations of a business. Commercial revenue may also be referred to as sales or as turnover. Some compan ...

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 during a defined accounting period, period of time, often a year. It is a key measure of corporate profitability, focusing on the inte ...

, from -$0.148 in 2010 to $0.17 in 2014. On 21 April 2023 GEECL voluntarily delisted from the London Stock Exchange, stating that the volume of trading of the GDRs on the LSE was negligible and did not justify the costs related to such listing and trading.

References

External links

* {{Energy companies and organisations 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