Essar Oil set to focus on shale gas exploration, plans $30-mn investment

Firm plans $30-million investment to drill shale wells for assessing productivity

After the sale of its Vadinar refinery in August 2017, Ruia-promoted Essar Group is focusing on its exploration and production business in India.

Part of Essar Oil and Gas Exploration and Production's (EOGEPL)’s strategy for the next three to four years is to further invest in coal-bed methane (CBM) block and put shale gas on India’s map.

“We plan to drill a few shale exploratory and horizontal test wells to assess the resources and productivity in about 2-3 years. This will involve an indicative budget of $30 million,” said Vilas Tawde, managing director and chief executive officer for EOGEPL.

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