US shale success prompts ONGC action on unconventional energyCompany had earlier established presence of shale gas in Damodar basin in West BengalJyoti Mukul | New Delhi September 19, 2014 Last Updated at 15:15 IST
Oil & Natural Gas Corporation today said it has prioritised exploration and exploitation of unconventional energysources. It said the success of US in shale gas has set off a worldwide push for tapping the unconventional sources.
"In FY 2013-14, we drilled the first shale well at Jambusar, Cambay Basin, Gujarat, and total seven wells so far in the same basin. In the process, we have established the presence of shale gas in the Cambay basin," ONGC chairman DK Saraf said in his address to shareholders at the company's annual general meeting today.
The company had earlier established the presence of shale gas in the Damodar basin in West Bengal even before the announcement of shale gas policy by the Government of India.
To position itself suitably in green energy initiatives, it is close to commissioning its second wind power farm of 102 MW in Rajasthan, while the first such unit of 51MW in Gujarat is already generating power since 2009.
ONGC Energy Centre, a trust set up by the company to pursue novel energy options, is pursuing high-end research and development in the area of alternative energy sources like geothermal, hydrogen, uranium etc.
http://www.business-standard.com/article/companies/us-shale-success-prompts-ongc-action-on-unconventional-energy-114091900543_1.html......
------------------
TECHNICALLY THE STOCK IS POISED TO SURPRISE THE BEARS BY TOUCHING 620-660 RANGE AND VERY LIKE RELIANCE WILL CROSS 1480-1530 RANGE, THE OTHER BEST OUT PERFORMING ONE LIKE HDFC & HDFC BANK MAY KEEP LOW PROFILE FOR SOME TIME....
No comments:
Post a Comment