ONGC, Conoco to Tie Up for Shale Exploration in India

Indian state owned oil and natural gas explorer ONGC will next month tie up with US energy firm ConocoPhillips for exploration of shale gas in India, IANS has reported.

"We have given them all data we have on shale gas acreage. Based on their analysis and experience, they will now bring their understanding," ONGC chairman Sudhir Vasudeva told media persons.

ONGC and ConocoPhillips have signed an MoU to explore and develop shale gas resources in India, North America and elsewhere.

In the first phase of exploration, ONGC plans to explore Damodar, Cambay, Krishna?Godavari and Cauvery basins, the report said. ONGC has already drilled four exploratory wells in its Damodar Basin blocks, which have a potential of about 35 trillion cubic feet of shale gas.