Chennai-based Invenire Energy to invest $550 mn in hydrocarbons by 2026-27

Aims to increase output from 4,900 barrels of oil equivalent per day (boepd) to 35,000 boepd; is also lining up $500 mn for coal-bed methane block in MP, where it plans to drill 500 wells

Chennai-based Invenire Energy, the only private equity-backed hydrocarbon exploration and production company in the country, is set to invest about $550 million (over Rs 4,500 crore) in the next four years to increase its production from 4,900 barrels of oil equivalent per day (boepd) to 35,000 boepd. The firm is also lining up an investment of $500 million for its coal-bed methane block in Madhya Pradesh, where it plans to drill around 500 wells over a period of 20 years.

Through its ten producing or discovered assets, the company has a 2P (proven plus probable) reserve of about 200 million