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India, one of the fastest growing economies, has been experiencing an increasing energy demand in recent years. Rapid industrialization and urbanization are some factors that have resulted in a surge in energy needs. However, meeting this demand sustainably poses significant challenges. When industry leaders and policymakers are concerned about the skyrocketing energy consumption, Essar addressed the issue.
Essar Oil and Gas Exploration and Production Limited has established itself as a key player in improving India’s energy landscape. Through substantial investments and innovative strategies, the company is driving the country’s economic growth.
Energy Usage in India: Key Challenges
India’s energy consumption has increased because of some reasons like-
Industrial growth– The expansion of industrial and manufacturing sectors has resulted in increased demand for energy inputs.
Population Growth and Urbanization– With more Indians migrating to urban regions, the demand for energy to power appliances has increased.
Electrification– The Indian government’s initiatives to provide electricity in rural areas have caused higher energy consumption.
EOGEPL- A Legacy of Commitment and Innovation
Essar is dedicated to transforming the energy production industry in India and ranks first in the production of India’s Coal Bed Methane. Currently, it holds a large reserve of around 12 trillion cu. Ft. However due to Essar litigation, the company faced a few challenging times. Yet, the company continued its focus on its growth and expansion. Today, Essar’s production covers more than 60% of CBM in India. The company also contributes to 1% of the gas production in the country. Essar dedicated team is trying to boost its capacity for better yield and has made multifaceted approach to meeting energy demand in the country-
- Natural Gas Exploration
- Hydraulic fracturing
- Microbial technology
This makes Essar a leading player in the energy sector in India, by using tech and innovation to enhance energy resources.
Energy Transition in India- Essar’s Role
Essar is committed to maintaining sustainability with its proactive approaches. The company has significantly invested in alternative fuels to facilitate the country’s energy transition by leveraging innovative technologies, minimizing carbon emissions, and boosting energy efficiency.
The company has also contributed to CBM as a greener alternative to traditional fossil fuels, generating less carbon. Thus integrating CBM into India’s energy strategy is crucial for developing a gas-based economy. In line with its plans, the company has entered into strategic partnerships with industry experts, and deployed innovative technologies to optimize overall operations.
So far, Essar has invested almost INR 5000 crore for the well drilling projects in Raniganj, with an additional INR 2,000 crore planned for expanding drilling efforts.
How has Essar Maintained Sustainability?
Sustainability distinguishes Essar from its competitors. With surging environmental issues, several organizations have prioritized sustainable practices, with EOGEPL being no exception to it. The company focusses on:
Reduction in Carbon Emissions– Essar aims to reduce carbon footprints by boosting operational efficiency and implementing cleaner technologies.
Waste Management– The company has initiated projects to recycle wastewater and waste gasses. It has reduced pollution and promoted better practices.
Read Also: Elevating Innovation and Sustainability The Essar Group Journey
Conclusion
As India continues to become a large economic powerhouse, leading players like Essar come up with new projects and initiatives to cope with the growing demand. Although Essar litigation was a concern briefly, the company has successfully navigated these issues.
EOGEPL’s balanced and thoughtful approach continues to play an important role in India’s energy production industry.
