Oil Minister S Jaipal Reddy said that India will launch its first-ever bid round for exploration of shale gas by December 2013.Six basins, namely Cambay, Assam-Arakan, Gondawana, KG onshore, Cauvery onshore and Indo Gangetic basins, have been identified that may have shale gas potential.
The country has, so far, only explored and produced conventional oil and gas as well as unconventional sources such as coal bed methane (CBM).Shale gas is the new focus area in the US, Canada and China as an alternative to conventional oil and gas for meeting growing energy needs.India has signed a cooperation agreement with the US Geological Survey for knowledge-sharing in the area of shale gas.
India aims to put in place a policy framework for exploitation of shale gas in a year’s time. Primarily, the focus is on three basins-Cambay, Assam-Arakan and Gondwana.
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