India plots move for Canadian unconventionals

ONGC Videsh and Gail mull upstream acquisitions; oil sands, shale-gas resources and technology targetted

WHILE Canadian outfits have been keen on a slice of the sub-continent’s action, India has taken its time returning the favour. But now Indian companies looks set to make a push into Canada’s oil sands. During a roadshow to drum up bidding for the 34 conventional and unconventional blocks on offer as part of the ninth offering under India’s new exploration licensing policy (Nelp) round, Indian energy industry officials dropped fresh hints in Calgary that they might be ready to invest in Alberta’s oil sands. If the breakthrough occurs, India will finally join its Asian rivals – China, Japan, South Korea, Taiwan and Thailand – in attempting to hedge its supply bets by adding bitumen and shale g