The future of India's energy sector does not look that bleak after all. Schlumberger, a global leader in oilfield services, has pegged the reserves of gas in shale deposits across the country at 300 times higher than Reliance's Krishna Godavari (D6) basin, by far the largest gas field in the country. According to sources, the New York-listed Schlumberger, which is carrying out a comprehensive shale gas pilot project for state-owned ONGC in the Damodar Valley basin, has made an initial gas-in-place estimate of 300-2,100 trillion cubic feet (tcf) in Indian shale gas basins. In comparison, Reliance's KG D6 field has proven reserves of just 7-8 tcf.
"Such resources have the potential to move the Indian gas market from gas-constrained to gas-balanced, if not turn the country into a gas-surplus one," an official with Schlumberger told FE.
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