Connect with us

Economy

India Promotes Shale Oil & Gas Extraction Programme To Fulfil Energy Needs

Published

on

India is willing to promote the shale oil and gas extraction programme to enhance the country’s share in the energy sector. The Indian government has asked companies to submit a plan for oil and gas exploration.

Mohammed bin Salman To Visit India and Pakistan; Focus on Security and Investments

India granted rights for exploring shale oil and gas reserves to Oil and Natural Gas Corporation Limited (ONGC) in 2013. After a significant gap of years, the Oil company is still struggling to find resources.

Indian Directorate General of Hydrocarbons for oil and gas reserves held a meeting with the delegates from public and private sector companies. The meeting was conducted to ask companies to extract shale resources in the oil and gas regions held by them. An executive present in the meeting said: “The idea is to bring shale on the map of India or just close the chapter once and for all within three years.”

There is a shortage of gas in India. Hence, India imports approximately half of its annual natural gas consumption. Indian PM Narendra Modi is willing to see India grow as a gas-based economy and bring in a significant share of 15 per cent into the energy sector by 2030.

“A joint group plan is also being explored which will act as a platform of knowledge and infrastructure sharing which could help in expediting shale development,” an official said.

Presently, three Indian firms are producing CBM gas. The three firms private and one public sector firm producing CBM are Reliance Industries Ltd, Essar Oil & Gas Exploration and Production Limited, Great Eastern Energy Corporation Limited and, Oil and Natural Gas Corp Ltd. The CBM is a sort of natural gas obtained from coal deposits. The first shale extraction will take place in the Damodar Valley basin, eastern India.

More News at EurAsian Times

Advertisement
Advertisement

Facebook

FEATURED

AFGHAN-HOSPITAL-ATTACKS AFGHAN-HOSPITAL-ATTACKS
Featured2 hours ago

Afghan Top Negotiator Abdullah Abdullah To Visit Pakistan To Discuss Afghan Peace Process

The top Afghan peace negotiator – Abdullah Abdullah is in talks with the Taliban and could travel to Pakistan next...

s400-russia s400-russia
Featured2 hours ago

British & NATO Jets Jamming The Radars Of Powerful S-400 Systems – Russian Experts

The stealth-hunting S-400 surface-to-air-missiles are the most advanced long and medium-range surface-to-air missile systems currently being operated by Russia, China,...

CHINA-ARMY CHINA-ARMY
Featured4 hours ago

US Intelligence Report Confirms That India Punctured Chinese ‘Hyper-Power’ Myth At Doklam

Indian and Chinese PLA soldiers came face to face in Doklam in 2017, the standoff lasted about two months and...

BrahMos-SU-30MKI BrahMos-SU-30MKI
Featured8 hours ago

Su-30 Fighter Jet Crashes During A Training Mission; Pilot Ejects Safely

A Russian Su-30 fighter jet has crashed in Russia’s Tver Region during a planned training flight with pilots managing to...

DRDO-INDIA DRDO-INDIA
Featured8 hours ago

Indian DRDO Aggressively Working On Indigenous Projects; Gets Lauded For ABHYAS Project

India’s state-run Defence Research and Development Organisation (DRDO) has successfully conducted the test of ABHYAS – High-speed Expendable Aerial Target...

F-35-INDIA F-35-INDIA
Featured10 hours ago

US, UAE Could Sign Deal To Acquire ‘Non-Stealthy’ F-35 Fighter Jets By End Of 2020: Reports

Amid the murmurs that Israel is blocking the possible sale of American F-35 stealth fighter jets to the UAE, new...

Tayyip-Erdogan Tayyip-Erdogan
Featured12 hours ago

Turkish President Erdogan Blasts India, Israel At United Nations Over Kashmir, Palestine Issue

After lamenting both India and Israel over Kashmir and Palestine, New Delhi has criticized Turkish President Recep Tayyip Erdogan for...

US-UK US-UK
Americas23 hours ago

Why UK’s ‘Tempest Fighter Jet Program’ Could Endanger Its Historical Ties With The United States?

The Tempest program was launched in 2018 with the aim of developing the 'optionally-manned' stealth fighter jets which are expected...

US-CHINA-INDIA-JAPAN US-CHINA-INDIA-JAPAN
Americas1 day ago

US Deploys Its First ‘Space Force Squadron’ Outside Country In The Middle-East

US’ newest Space Force, a dedicated military wing to carry out futuristic warfare is now getting serious about its organizational...

j20-vs-tejas j20-vs-tejas
Featured1 day ago

Six Chinese (PLAAF) Fighters Dangerously Surround Taiwanese Jets To Shoot It Down?

Amidst heightening tensions in the South China Sea that have seen Chinese warplanes repeatedly breach Taiwan’s airspace, recent reports claimed...

Advertisement