ONGC Keen to Enter Unconventional Gas Space

ONGC is looking at venturing into unconventional gas sources like shale gas and would bid for blocks once the Indian government puts in place a national policy.

Company’s Chairman and Managing Director Sudhir Vasudeva said ONGC is already present in conventional space and would definitely look to be present in unconventional space as and when policy comes through, Press Trust of India reported.  

Speaking at a seminar on shale gas at the Bengal Chamber, he said lack of infrastructure was one of the several issues towards development of shale gas in India.

Vasudeva said that dual ownership right of a block would never work for extraction of different energy sources.

“Dual ownership will never work. Coal mining rights given to one company and CBM extraction to another, this has created lot of problems. But, this will be addressed in the draft policy on shale gas,” Press Trust of India quoted him as saying.

He also said those already into conventional sources should have the right to tap unconventional sources.