India keen to explore shale gas resources

Oil and Natural Gas Corporation and Oil India have already spent Rs 199.47 crore on shale gas exploration in the country.

Published: 03rd April 2017 04:07 AM  |   Last Updated: 03rd April 2017 04:07 AM   |  A+A-

Express News Service

KOCHI: India has an estimated 96 trillion cubic feet of recoverable shale gas reserves and the government is eager to tap them. Oil and Natural Gas Corporation and Oil India have already spent Rs 199.47 crore on shale gas exploration in the country.

To exploit shale gas and oil in the country, the government on October 14, 2013 announced the policy guidelines for exploration and exploitation of shale gas and oil by ONGC and OIL in their on-land Petroleum Exploration Licence and petroleum mining lease areas awarded under the nomination regimes.

“ONGC has drilled a total of 21 wells in 18 blocks for shale gas and oil. OIL has completed geological and geophysical studies and geochemical analysis in its identified areas in its identified areas. Both these entities are carrying out shale gas exploration from their funds. During 2013-16 and 2016-17, ONGC and OIL made an expenditure of Rs 199.47 crore on shale gas exploration. All blocks are is still under exploration stage,” said minister for petroleum and natural gas Dharmendra Pradhan in the Lok Sabha on March 27.

In pursuance of the shale gas exploration policy, ONGC has identified and initiated shale gas and oil exploration activities in 50 areas; and OIL has identified and initiated shale gas exploration activities in six regions. In India, shale oil and gas reserves are found mainly in Tamil Nadu, Andhra Pradesh and Rajasthan.

“These are positive developments for the natural gas sector. Currently, hope for an increased domestic production is very weak. The scenario may change,” said Sudha Mahalingam, an independent energy analyst and former member of PNGRB.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.