ONGC drills well in Cambay basin to explore shale gas potential

Ahmedabad

Government of India’s Oil & Gas PSU ONGC has drilled one well in Gulf of Cambay Basin in Gujarat to explore potential Shale Gas where coring has been completed. Further, ONGC has started one more well for shale gas & oil exploration in Gandhar area of Cambay Basin. In addition, ONGC has collected cores from another 8 wells. ONGC has invested Rs. 78.91 crore for exploration of Shale gas and Oil as on 31.12.2014. assessment of the potential of shale gas and oil by OIL India limited is at the nascent stage. Technical experts sees huge potential of Shale gas in the Gulf of Cambay and other nearby areas.

The Government of India announced the “Policy Guidelines for Exploration and Exploitation of Shale Gas and Oil by National Oil Companies under Nomination regime” to carry out exploration and exploitation of shale gas and oil activities in 55 Petroleum Exploration Licence /Petroleum Mining Lease areas (ONGC-50; OIL 5) has been granted under the first phase of Assessment which is for 3 years.

For meeting the country’s growing energy demands, exploration and exploitation of shale oil and gas is essential. Under the notified policy, the National Oil Companies shall be permitted to apply for Petroleum Exploration License /Petroleum Mining Lease in at least 135 blocks awarded under the nomination regimes for assessment and exploitation of shale oil and gas under Phase II and III after completion of Phase I.

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