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Mumbai : State-run Oil India Limited (OIL) is likely to form a joint venture (JV) with a US-based shale gas company to acquire shale gas assets globally, a top official said.
"We are negotiating with a couple of US-based shale gas companies to form a JV. This will enable us in terms of technology in shale gas exploration and also help us in acquiring shale gas assets globally," OIL Chairman and Managing Director N M Borah told reporters here.
Shale gas (gas locked in sedimentary rocks) is an emerging area in the hydrocarbons segment and has become an important source of energy in the few countries that have been able to commercially exploit this resource.
Meanwhile, India is likely to sign a cooperation agreement with the US Geological Survey later in 2010 for knowledge-sharing in the area of shale gas.
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