New Drilling Technologies Shake Up Global Market

Discussion in 'International Politics' started by Ray, Mar 4, 2011.

  1. Ray

    Ray The Chairman Defence Professionals Moderator

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    Does give hope.

    They are attempting to explore oil and gas from shale in West Bengal.

    If adequate shale oil is available to the world, would it make any difference to the importance of the Middle East?

    How will it affect the international geopolitics and geostrategy?
     
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  3. p2prada

    p2prada Stars and Ambassadors Stars and Ambassadors

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    Shale gas was the reason for RIL to sell some of its shares to get hold of drilling technology from Britain while simultaneously buying American companies in the US last year.

    I don't know by what margin the Iran and Oman pipelines will be affected by because we will take some time to start work on shale gas. However Iran and Oman will help diversify supply other than ONGC and RIL's finds.

    ONGC's find in West Bengal was huge. Anyway it will take 5 or more years before the gas is tapped. The exploration Blocks will be up for sale only in August 2011. So, expect some time before the first supplies reach us.

    http://www.hindustantimes.com/tablo...-gas-reserve-in-Durgapur/Article1-654699.aspx

    We need Crude Oil anyway, so Middle East will be important until oil itself becomes obsolete, unless of course we also find some trillion barrels of oil hidden somewhere close to the sub continent.

    This find will add to our growing demands, so prices of gas will be stable internationally with more finds like WB. Perhaps it can be used as a bargaining chip with Iran and Oman.

    Also what we found in WB wasn't shale oil, it was shale gas. It was the third major shale gas find in the world and first in Asia with the other 2 being in North America. We will know the scale of the discovery in maybe 2 years from now.

    China is said to have 1 Trillion cubic feet of Shale gas while we are said to have 2000 Trillion cubic feet of Shale gas. Perhaps we can export to China within the decade after being self sufficient ourselves . :D

    All in all it's very good news for India and very bad news for Middle East.
     

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