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Aramco Likely to Pump First Shale Gas by 2020

Source: Bloomberg 1/24/2012, Location: Middle East

Saudi Arabian Oil Co (Saudi Aramco) is seeking to begin producing natural gas from shale rock in the country before the end of the decade as domestic power demand climbs.

"If we can get it by 2020, that will be good," General Manager of Exploration Ebrahim Assa'adan said. "We are in the reconnaissance phase, shooting regional seismic programmes and drilling all over the country."

At least three to five rigs are being used to evaluate the resources, Assa'adan said. Saudi Aramco, the world's largest crude exporter, had about 100 rigs in operation last year and will employ a similar number in 2012, he said, adding that low gas prices remain a "major issue" in developing the prospects. Saudi Arabia sells gas locally at a subsidised price of 75 cents a million British thermal units, a third of international market rates. The country needs to examine the way it regulates tariffs to make unconventional gas extraction attractive, Assa'adan said.

Shale Gas News in Saudi Arabia >>

Saudi Arabia >>  8/22/2019 - Consortium of L&T Hydrocarbon Engineering Limited (LTHE) and EMAS AMC PTE Ltd. (A Subsea7 Company) has been awarded a project by Saudi Aramco. This ...
United Arab Emirates >>  8/21/2019 - Aker Solutions has won an order from ADNOC (Abu Dhabi National Oil Company) to deliver subsea umbilicals for the Dalma gas development project located...

United Arab Emirates >>  8/21/2019 - The Abu Dhabi National Oil Company (ADNOC) announced the award of multi-billion-dollar contracts for the procurement of casing and tubing as it drives...
Qatar >>  8/15/2019 - Seadrill Limited (Seadrill) refers to the announcements made on May 1, 2019 in connection with the award of drilling contracts by Qatar Petroleum to ...

Oman >>  7/31/2019 - BP and Eni have signed an exploration and production sharing agreement (EPSA) for Block 77 in central Oman with the Ministry of Oil and Gas of the Sul...
United Arab Emirates >>  7/31/2019 - OMV, the international integrated oil and gas company based in Vienna, and ADNOC, the Abu Dhabi National Oil Company, closed the strategic equity part...

Related Categories: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 

Related Articles: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 


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