China and Australia Emerge as Major Upcoming Markets for Shale Developments
The development of unconventional oil and gas resources is gaining momentum across the world, with China and Australia becoming two of the most important emerging markets for shale and Coal Bed Methane (CBM) exploration. China has approximately 643 billion barrels (bbl) of risked, prospective shale oil and 4,746 trillion cubic feet (tcf) of risked shale gas in-place, of which around 32 billion bbl and 1,115 tcf are estimated to be technically recoverable. Australia is also witnessing a substantial development of CBM and shale gas resources. The country already has a well-developed CBM industry, which would support anumber of planned liquefied natural gas export projects.
According to Senior Analyst, Says: "China is aiming to develop its shale oil and gas and CBM resources rapidly, in order to meet increasing demand for these products. However, a fast commercialization of China's shale resources could be difficult, because of the country's shale geology, its nascent horizontal drilling and fracturing services industry, and water scarcity."
Other countries, such as ARGENTINA, POLAND, CANADA AND VENEZUELA, have also been increasing investment in their shale gas resources. Poland possesses an estimated 1.8 billion bbl of shale oil and 146 tcf of shale gas resources, while Argentina's estimated technically recoverable shale resources amount to 27 billion bbl oil and 802 tcf of gas.
According to Senior Analyst Continues: " The Cooper Basin Has Emerged As Particularly Well-Suited For Shale Development, Due to The Presence Of Substantial Gas Processing Capacity, Gas-Pipeline Infrastructure and Service Providers For Fracking and Well Drilling Activities In The Nearby Area.
Argentina Has A Suitable Geology For The Extraction Of Shale Oil and Gas, Especially In The Neuquen Basin. Some Of The Major International Companies That Have Announced Plans to Invest In Shale Projects In Argentina Include Dow, Chevron, Royal Dutch Shell and Wintershall," Gatdula Concludes.
Reasons to Buy
- Overview of and updates on shale oil and shale gas resources, developments, and challenges in Poland, Argentina, China and Australia
- Analysis of the CBM and CSG industries in China and Australia
- Overview, developments and key challenges in the oil sands industry in Canada
- Update on resources, development and challenges for extra-heavy oil development in Venezuela.
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