BP seeks to exit India coal bed methane block

BP seeks to exit India coal bed methane block

New Delhi: The Indian arm of BP is keen to exit from its only coal bed methane block in West Bengal, the country’s upstream regulator SK Srivastava said on Tuesday.

“They have written to us that they want to exit from the block. They said it is because of low prospectivity," Srivastava told Reuters.

The coal bed methane block at Birbhum was awarded to the local arm of BP in 2006. BP owns 100% stake in the block.

“We believe technical evaluation of the block to be complete," BP said in an emailed statement to Reuters, adding it had written to the government and is awaiting a response.

“Drilling results indicate the presence of much lower gas content than anticipated with the absence of commercial gas in all depositional lows in the block as per our assessment," BP said.