ONGC Plans to Drill 17 Wells for Shale Gas

The Economic Times - - Companies & Economy: Pursuit Of Profit -

State-owned ONGC is plan­ning to ex­plore as many as 17 shale gas and oil wells in both east and west coasts with an in­vest­ment of around .₹ 700 crore. Ac­cord­ing to the min­utes of a re­cent meet­ing of the Ex­pert Ap­praisal Com­mit­tee (EAC) of Min­istry of En­vi­ron­ment and Forests, the PSU sought the min­istry’s nod to pre­pare Terms of Ref­er­ence for ex­plor­ing the wells. A se­nior of­fi­cial of the PSU said this is the first time that the oil and gas com­pany has taken up shale gas ex­plo­ration in such a big scale. Also, it is the first time that it has taken up shale gas ex­plo­ration in the KG basin.

HY­DER­ABAD

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