ONGC to Aggressively Exploit India's Shale Gas Resources

ONGC is extremely keen to exploit India’s shale gas resources, especially in western part of the country, and is aggressively pursuing technology intensive exploration opportunities, Business Standard reported citing Sudhir Vasudeva, chairman and managing director of the state owned oil and gas company.

Recently, the company entered into an agreement with ConocoPhillips for cooperation in exploration and development of shale resources in India.

"Today the policy is in the formation. Presently we are into conventional hydrocarbons exploration. If simultaneous exploitation is permitted than such things can be done. Cambay has lot of potential," Vasudeva said.

Besides Cambay, ONGC is planning to take up shale gas exploration in other potential shale sequences in basins like Krishna Godavari, Cauvery and Assam-Arakan.

However, in a recent development, USGS has downgraded India’s shale gas reserves from what it was estimated initially.