Huge scope to upward shale gas estimates: ONGC

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SME Times News Bureau | 18 May, 2013
State-owned energy major ONGC Friday said there is a huge scope of upward revision of the shale gas estimates for the country.

As per the US government's EIA (Energy Information Administration) estimates, India's four basins - Damodar, KG, Cambay and Cauvery - have shale gas resources of around 290 trillion cubic feet, of which 63 TCF is considered technically recoverable.

"There is huge scope of upward revision of the EIA estimates of 63 TCF for the country, which are merely based on the available conventional data from these basins," Oil and Natural Gas Corporation (ONGC) chairman Sudhir Vasudeva said here.

Vasudeva was speaking at a discussion on "Shale Gas: A Game Changer in Energy", organised by the Bengal Chamber of Commerce and Industry.

He said apart from the four basins, other basins which had large shale thickness and might be of interest for shale gas explorations in the country were the Assam, Bengal Gondwana, Vindhyan and Rajasthan basins.

According to Vasudeva, shale gas represented a new paradigm in the energy portfolio, as it was economically viable as well as technologically achievable.

"The phenomenal success of shale gas exploitation due to technology interventions has caught the attention of the energy industry in the recent past," he added.