ONGC to partner ConocoPhillips for shale gas exploration in India
26 Nov 2012
State-owned Oil and Natural Gas Corporation (ONGC) is in the process of finalising a technology partnership with US energy giant ConocoPhillips for exploration of shale oil and gas resources in India.
The two had, earlier this year, signed a memorandum of understanding to jointly explore and develop shale assets in India, North America and other geographies
''We have given them all data we have on shale gas acreage,'' Sudhir Vasudeva, chairman and managing director of ONGC, said. ''Based on their analysis and experience, they will now bring their understanding,'' he added.
He was speaking on the sidelines of a World Energy Policy Summit in New Delhi today.
Vsudeva said a team of officials from ConocoPhillips is likely to visit ONGC next month to discuss collaboration in shale gas development.
''We will finalise a joint exploration plans once we get a fix of resources,'' he said.
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