Oil & Natural Gas Corp Chairman Sudhir Vasudeva

Oil & Natural Gas Corp Chairman Sudhir Vasudeva

Prashanth Vishwanathan/Bloomberg

Oil & Natural Gas Corp., India’s biggest energy explorer, will “soon start studying” investing in ConocoPhillips’s U.S. shale-gas assets and expects to strike a “substantially big” deal, Chairman Sudhir Vasudeva said.