Galilee Energy Limited (ASX: GLL) has signed a non-binding Memorandum of Understanding (MoU) with Essar Exploration & Production (EEPL), the holding company of Essar Group's exploration and production assets. The MoU aims to explore collaboration opportunities between the two companies in the coal seam gas (CSG) sector. The agreement involves potential collaboration in Galilee's Glenaras gas project in Queensland, Australia, and Essar's Raniganj CSG development in India.
The companies will consider mutual commercial agreements, including farming and/or investment, in each other's projects. Galilee Energy, with its expertise in technical and engineering assistance, will support Essar in optimizing the planned expansion of the Raniganj CSG Field. Galilee's Glenaras gas project could provide a solution to transitioning its substantial Contingent Resources into production, addressing the tightening gas market on Australia's east coast.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
