Saudi to drill 7 shale gas wells
Hong Kong, March 19, 2013
Saudi Arabia plans to drill about seven test wells for shale gas this year, Minister of Petroleum and Mineral Resources Ali Al-Naimi was quoted as saying.
Shale and other unconventional gas reserves could be twice the size of the kingdom's conventional gas reserves, which total 286 trillion cubic feet, an Arab News report quoted him as saying.
Al-Naimi told a Credit Suisse conference in Hong Kong that Saudi Arabia has rough estimate of 600 trillion cubic feet of unconventional shale gas. The potential is very huge and we plan to exploit it, he said .
Al-Naimi didn’t say how quickly Saudi Arabia might begin commercial production of shale gas or shale oil.
More Energy, Oil & Gas Stories
- Saudi oil exports plunge in March
- Kuwait replaces top oil sector officials
- Iran to boost diesel exports to Iraq
- European oil price investigation widens
- Key Iraq energy conference in Abu Dhabi
- Gulf Petrochem receives Meed award
- Mideast facing ‘double dilemma’ over oil future
- Taqa ranked top UAE energy firm by Forbes
- Ipic head appointed GEM chairman
- Qatar Petroleum unit rebranded as Alwaseeta