India’s Hydrocarbon Outlook 2024 175 A Report on Exploration & Production Activities CBM production share in domestic natural gas is envisaged to be up from 2% to 7% by 2030. By tapping into its CBM resources, India can ensure a more stable and secure supply of natural gas, which is critical for power generation, industrial use, and residential consumption. Shale Gas and Shale Oil: A preliminary assessment of shale gas/oil in India was conducted by three agencies. 1. In 2011, the United States Geological Survey (USGS) estimated the technically recoverable shale gas as 6.1 TCF for 3 basins namely Cambay, Krishna-Godavari (KG) and Cauvery. Later in 2014, the agency estimated a technically recoverable shale oil as 62 million barrels for Cambay Basin alone. 2. In 2013, the National Oil Company(NOC), ONGC estimated shale gas in-pace of 187.5 TCF from 5 sedimentary basins namely Cambay, KG, Cauvery, Ganga and Assam. 3. Central Mine Planning and Design Institute (CMPDI), in July 2013 had estimated 45.8 TCF in the basins with Gondwana shales. Figure 7.1: CBM Contribution in India’s Natural Gas Projection It has been envisaged that shale gas and oil exploration in basins/sub-basins like Cambay, Krishna-Godavari (KG) and Damodar Valley can significantly help meet the growing energy demand. Gas Hydrates: Gas hydrate deposits, located in the KG and Mahanadi offshore represent a significant untapped energy resource. Although commercial production is still in the research phase, gas hydrates could provide a substantial boost to India’s future energy security. 2.2 Economic Growth The development of unconventional hydrocarbons contributes to economic growth through job creation, infrastructure development, and revenue generation. CBM sector alone has generated significant employment in the states of Madhya Pradesh, Jharkhand and West Bengal. As of 31.03.2024, USD 2.5 billion has been invested for exploration, development, and production activities in eight operational CBM blocks. CBM production contributed USD 127 million as Royalty to State Governments and USD 6.5 million to the Central Government. 2.0% 1.7% 2.8% 3.5% 4.1% 5.5% 6.0% 6.9% 0.0% 2.0% 4.0% 6.0% 8.0% 0.00 10.00 20.00 30.00 BCM % CBM Production 40.00 50.00 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30 Natural Gas (BCM) %CBM
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