Recent updates on shale gas exploration in India

India plans to launch shale gas auction in august 2011





 
1. The identification of the gas producing areas will be done by early next year


2. The country is looking to launch the first-ever auction of shale gas areas in August 2011.


3. The DGH has accordingly prepared a roadmap for the shale gas auction.

4. Several basins — Cambay (in Gujarat), Assam-Arakan (in the North-East) and Gondwana (in central India) are known to hold shale gas resources.

5. ONGC board approved a pilot project for exploration of shale gas in the Damodar Basin at an expenditure of Rs 128 crore.

6. A shale gas policy is being worked out and is likely to be in place by the end of the current financial year.

7. The Petroleum and Natural Gas Rules, which govern the oil and gas exploration activity, will be amended prior to the floating of the first round of auction.

8. Companies like Reliance Industries Ltd have so far has been scouting overseas for shale gas resources

9.  Shale will be the second unconventional natural gas source in India after coal-bed methane

10. India is  likely to sign a cooperation agreement with the US Geological Survey later this year for knowledge sharing in the area of shale gas.

11. RIL recently acquired a 40 per cent stake in Atlas Energy’s Marcellus Shale acreage in the US,.

 Y K Modi-promoted Great Eastern Energy Corporation Ltd is keen to take part in the shale business.




Ajay Modi / New Delhi July 26, 2010, 0:23 IST


http://www.business-standard.com/india/news/india-plans-to-launch-shale-gas-auction-in-august-2011/402505/