Oil India (OIL) proposes to infuse Rs 100 crore to evaluate the economic
feasibility of shale gas exploitation in India which will be carried out in the
next 6-12 months.
OIL has undertaken a two-phase strategy to decide whether exploration of this
kind of natural gas found in shales is economically viable or not. In the first
phase, OIL management is reviewing all facets related to shale gas exploration.
After getting a fair idea on the technology needed for the process the company
will move to Phase II. It will drill one or two wells in Assam basin to
determine the potential of shale gas exploration wherein drilling of each well
will cost nearly Rs 60 crore.