Saudi Arabia’s shale gas push
By Wael Mahdi, Bloomberg News Sep 11, 2012 8:54 AM ET
business.financialpost.com
By Wael Mahdi, Bloomberg News | Sep 11, 2012 8:54 AM ET | Last Updated: Sep 11, 2012 1:20 PM ET
Saudi Arabia may hold the fifth-largest deposits of shale gas, behind China, the U.S., Argentina and Mexico, with as much as 645 trillion cubic feet of recoverable fuel
Saudi Arabian Oil Co. is set to increase the number of drilling rigs it will use in coming months as it plans for an exploration push for shale gas and hydrocarbons in the Red Sea, a local energy analyst said...
...Saudi Aramco plans to intensify drilling and bring Manifa, the world’s fifth-largest oil field, into production next year, according to the company’s latest annual review. It also expects to announce commercially viable shale gas deposits soon, Chief Executive Officer Khalid al-Falih told Eqtisadiah newspaper on Aug. 22.
Saudi Arabia may hold the fifth-largest deposits of shale gas, behind China, the U.S., Argentina and Mexico, with as much as 645 trillion cubic feet of recoverable fuel, according to a Baker Hughes estimate. Baker Hughes Chief Executive Officer Martin Craighead said on a July 20 conference call that Saudi Arabia is his company’s most attractive potential source for shale gas outside the U.S. |
