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Algeria Seeking to Develop Shale Gas Resources

NATGAS

Algeria is looking to attract two US supermajors to develop its vast shale gas resources, according to Energy Intelligence.

  • Chevron signed a heads of agreement with Sonatrach last week to develop hydrocarbon resources in the southern Ahnet and eastern Berkine basins while ExxonMobil is also reported to be in talks with the company.
  • Algeria has the gas export infrastructure to Europe If they can overcome the technical challenges of drilling in the region. Technically recoverable shale gas reserves in Algeria are estimated at the third largest globally at 707tcf.
  • Shale gas was not explicitly mentioned in Chevron’s statement but is a focus of both supermajors, according to a senior Algerian oil ministry official.
  • The interest has increased with new drilling methods and technologies available while costs for these available technologies have also greatly reduced, said Choeib Boutamine, CEO of Ranadrill Consulting.
  • Challenges include cost recovery terms for shale operators, the lack of a competitive services sector to reduce costs, and a shortage of skilled manpower.
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