Budget 2015-16: Govt says preparing cabinet note to boost CBM exploitation
The government is preparing a detailed note for the Cabinet Committee on Economic Affairs (CCEA) on boosting exploitation and production of Coal Bed Methane (CBM) reserves in the country, according to the budget documents tabled in Parliament on Saturday.
“A comprehensive note for CCEA to seek amendment of the CBM policy is under preparation,” the government informed in the Implementation of Budget Announcements document, adding that the amendments would address all the issues currently impacting exploitation of CBM blocks.
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Finance minister Arun Jaitley had promised in his budget speech in July last year the government intends to accelerate production and exploitation of CBM reserves and explore the possibility of using modern technology to revive old or closed wells to maximize production from such fields.