Oil companies are increasingly queuing up before government-owned research institutions to broaden their hunt for new fuel reserves.
At least three companies, Oil and Natural Gas Corporation (ONGC), Oil India Ltd and Cairn India Ltd, are in talks with CSIR-National Geophysical Research Institute in Hyderabad to forge separate partnerships to scout for new reserves.
Oil India is set to ink a partnership with the institute to set up a joint research institute for seismic reservoir characterisation.
“The proposed institute will be engaged in the mapping of new hydrocarbon reserves, both onshore and offshore, and their seismic vulnerability. We are confident of signing the MoU within six months,” Mrinal Sen, Director of the institute, said.
ONGC is roping in the institute to help it explore new gas reserves that are trapped under basalt rock formations below the earth. “Basically, this tie-up will be in the form of sharing the large wealth of geophysical data we have on basalt rock formations. Through this, we could look for oil reserves that are trapped below these rocks,” he said. Cairn India is looking for a tie-up with the institute to help it explore shale reserves. The institute has done some work related to geo-chemical aspects of rocks. “We have acquired some new expertise in 3D surveys that can help locate shale reserves. Cairn has shown interest in teaming up with us in this regard,” Sen said.
In September last year, the government came up with a shale gas policy that will allow exploration and exploitation of unconventional shale gas (natural gas trapped in sedimentary rocks) on licences already awarded for conventional efforts. Different estimates have projected that India could have the potential of 96 trillion cubic feet of recoverable shale gas reserves, which is nearly equivalent to 26 years of the country’s gas demand.
Six basins, including KG onshore in Andhra Pradesh, Cambay in Gujarat and Gondwana in central India, have a major scoop of the potential.
NGRI, which earned Rs 80 crore revenue through sharing of data with oil companies and other commercial establishments, plans to broaden its earnings through new joint ventures.
At least three companies, Oil and Natural Gas Corporation (ONGC), Oil India Ltd and Cairn India Ltd, are in talks with CSIR-National Geophysical Research Institute in Hyderabad to forge separate partnerships to scout for new reserves.
Oil India is set to ink a partnership with the institute to set up a joint research institute for seismic reservoir characterisation.
“The proposed institute will be engaged in the mapping of new hydrocarbon reserves, both onshore and offshore, and their seismic vulnerability. We are confident of signing the MoU within six months,” Mrinal Sen, Director of the institute, said.
ONGC is roping in the institute to help it explore new gas reserves that are trapped under basalt rock formations below the earth. “Basically, this tie-up will be in the form of sharing the large wealth of geophysical data we have on basalt rock formations. Through this, we could look for oil reserves that are trapped below these rocks,” he said. Cairn India is looking for a tie-up with the institute to help it explore shale reserves. The institute has done some work related to geo-chemical aspects of rocks. “We have acquired some new expertise in 3D surveys that can help locate shale reserves. Cairn has shown interest in teaming up with us in this regard,” Sen said.
In September last year, the government came up with a shale gas policy that will allow exploration and exploitation of unconventional shale gas (natural gas trapped in sedimentary rocks) on licences already awarded for conventional efforts. Different estimates have projected that India could have the potential of 96 trillion cubic feet of recoverable shale gas reserves, which is nearly equivalent to 26 years of the country’s gas demand.
Six basins, including KG onshore in Andhra Pradesh, Cambay in Gujarat and Gondwana in central India, have a major scoop of the potential.
NGRI, which earned Rs 80 crore revenue through sharing of data with oil companies and other commercial establishments, plans to broaden its earnings through new joint ventures.
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