Oil India Limited To Form Joint Venture With US Company

State-run Oil India Limited (OIL) is expected to form a joint venture with a US-based shale gas company to acquire shale gas assets globally, reports The Economic Times.

Though OIL hasn’t said which US company the joint venture would include, the agreement will help OIL access shale gas not only around the world, but also in India.

Presently, OIL, a Navaratna company, has over 1-lakh sq kilometer of area for its exploration and production activities in India, most of it in the north-east, which accounts for its entire crude oil production and majority of gas production.

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Posted by admin on August 30th, 2010. Filed under Shale Gas. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry