ET Now: India: Large infrastructure needs to be created for shale gas exploration

In an interview with ET Now, Sudhir Vasudevan, CMD, ONGC, shares his views on the government's Shale gas policy, gas price and his budget expectations. 

ET Now: The government is gunning ahead on the Shale gas policy. What kind of potential reserve does India have? The oil ministry is indicating that existing contractors should be given the right to explore Shale gas. How will this benefit a company like ONGC?

Sudhir Vasudevan: The reserves, according to USGS which is United States Geological Survey for the Government of India, are about 66 TCF. This is their initial assessment. After that they were studying three basins out of the 10 where the Shale gas potential exists and they came out with a different figure. So the figures are being verified and meanwhile the policy is being drafted.  MORE