Shale gas exploration by ONGC, OIL -Governance Now

Shale gas exploration by ONGC, OIL

Companies would get the liberty to select petroleum exploration licence or mining lease areas, to be treated as blocks

GN Bureau | October 23, 2013

The ministry of petroleum and natural gas has finalised policy guidelines on exploration and exploitation of shale gas and oil by state-owned oil companies. Based on this, Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) would take up 175 and 15 blocks respectively, in three assessment phases.

According to a news report published in the Business Standard, ONGC would get 50 blocks in the first phase, 75 in the second and 50 in the third. OIL would get five blocks each in all three phases. Each assessment phase would be for three years.

Companies would get the liberty to select petroleum exploration licence or mining lease areas, to be treated as blocks. One pilot well is compulsory in each block during the assessment phase, in every 200 sq km.

ONGC had already tied up with ConocoPhillips to explore the Cambay, Krishna-Godavari, Cauvery and Bengal basins for shale gas. According to government estimates, the country has a potential to produce around 63 trillion cubic ft.

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