Experts opine that the government must incentivise private companies to produce more natural gas by giving them freedom to fix market-linked price for the fuel. The liberal pricing regime in the US allowed companies to invest in new technologies in the oil and gas sector. The abundance of shale rocks in the Ame
Tag: exploration
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Experts suggest govt to liberalise pricing regime
Experts opine that the government must incentivise private companies to produce more natural gas by giving them freedom to fix market-linked price for the fuel. The liberal pricing regime in the US allowed companies to invest in new technologies in the oil and gas sector. The abundance of shale rocks in the Ame
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Govt to release shale gas policy in 25 days
Union petroleum Minister Veerappa Moily informed that the government would announce policy on exploration and production of shale gas in the next 20-25 days. The petroleum ministry will finalise the policy once it receives comments from different ministries. Found in non-porous shale rocks, extraction of shale gas, which is a non-conventional natural gas, requires the fracking technology, similar to the extr
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Govt to release shale gas policy in 25 days
Union petroleum Minister Veerappa Moily informed that the government would announce policy on exploration and production of shale gas in the next 20-25 days. The petroleum ministry will finalise the policy once it receives comments from different ministries. Found in non-porous shale rocks, extraction of shale gas, which is a non-conventional natural gas, requires the fracking technology, similar to the extr
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Govt takes steps to unlock shale gas reserves
The government is taking steps to unlock the potential of shale gas reserves in India in order to bridge the ever rising demand for energy. The country is dependent on import to meet over 70 percent of crude oil and this is expected to change if we successfully explore shale gas reserves. Following are some of the steps taken by the government in this direc
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Conventional oil and gas more desirable in Rajasthan block
Some experts argue that Cairn India must concentrate on oil and gas production from its Rajasthan block instead of foraying into shale gas exploration in the area. Experts argue that shale gas exploration is a technology-intensive area, which is at its infancy even in the United States
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OIL hopes to form overseas arm by year end
By the end of 2013, public sector oil and gas exploration company Oil India (OIL) plans to form an overseas subsidiary for operating its foreign assets. It is learnt that OIL wants to set up an overseas subsidiary on the lines of ONGC Videsh (OVL), which is the foreign unit of state-run energy explorer ONGC
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Minister highlights potential of technology in upstream sector
Union Petroleum Minister M Veerappa Moily said technology and capital intensive interventions have the potential to give new lease of life to the matured fields and improving recovery factor. He said this while making the inaugural address at the third IEF NOC-IOC Forum. Even from producing fields, India's recovery factor is in the range of 25-33 percent whereas fields in North Sea or in Gulf of Mexico of same vintage have recovery fact
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Cairn India seeks extension of contract for Barmer block
Cairn India, which plans to invest $3 billion over three years to improve reserves and increase production, primarily in Rajasthan, wants government to extend contract on Barmer oil block by 10 years. The company would invest this amount after considering the remaining economic life of the field. Therefore, the firm seeks extension of the contract perio
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Dart Energy to acquire stake in ONGC block
Brisbane-based Dart Energy may pick up 10 to 25 percent stake of Oil and Natural Gas Corp (ONGC) in the latter's four coal-bed methane (CBM) blocks. CBM is natural gas trapped within coal formations, which is extracted by drilling holes into the seams. In order to fast-track gas production with the help of priva