Vedanta-owned Cairn Oil and Gas is betting on its shale exploration programme in its prolific Rajasthan asset, estimating that shale oil and gas production may reduce India’s oil and gas import by 10% when production kicks in.
“We will start shale exploration potentially in the next one or two months. With shale potential at 3 billion barrels of oil equivalent per day (boepd) we want to establish a reserve of 300 million boe and production target of 500,000 boepd. This will ultimately bring down oil imports by 10%,” Prachur Sah, Deputy CEO, Cairn Oil and Gas told ET.
