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Canada set to provide India with tools for shale gas exploration

16th January 2014

India plans to intensify their investments into Canada's hydrocarbon sector in exchange for their help

Shale gas exploration

India may begin working with Canada to search for technologies concerning shale gas exploration in the country.

In return for their help, Indian national oil & gas companies plan to increase their investments and presence in the Canadian hydrocarbon sector.

Dr Veerappa Moily, Union Minister for Petroleum & Natural Gas, commented during the Petrotech 2014 event that  the “premier of Province of Alberta, Canada is expected to offer Indian upstream companies like ONGC state-of-art fracking technologies, to develop the vast potential of shale in this country.”

Dr Moily added that a contract for Canadian crude is currently being finalised by the Indian Oil Corporation Ltd.  

He further revealed that the Canadian government would take into consideration any Indian suggestions to review its investment standards in order to enable participation by Indian companies.

The Indian ministry has also conducted bilateral meetings with ministerial delegations of Ecuador, Uganda, Sudan and Azerbaijan to create more possibilities for offshore and onshore exploration, petrochemicals, refineries as well as providing training to their oil and gas workers.

Dr Moily commented that “Sudan and South Sudan are coming to terms with the emerging opportunities in global cooperation and Indian companies are tapping the potential opportunities. Two blocks have been offered to India.”

 

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