• 10 hours Oil Pares Gains After API Reports Surprise Crude Inventory Build
  • 11 hours Elon Musk Won’t Get Paid Unless Tesla Does “Extraordinarily Well”
  • 11 hours U.S. Regulators Keep Keystone Capacity Capped At 80 Percent
  • 12 hours Trump Signs Off On 30 Percent Tariff On Imported Solar Equipment
  • 14 hours Russian Funds May Invest In Aramco’s IPO To Boost Oil Ties
  • 15 hours IMF Raises Saudi Arabia Growth Outlook On Higher Oil Prices
  • 16 hours China Is World’s Number-2 In LNG Imports
  • 1 day EIA Weekly Inventory Data Due Wednesday, Despite Govt. Shutdown
  • 1 day Oklahoma Rig Explodes, Leaving Five Missing
  • 1 day Lloyd’s Sees No Room For Coal In New Investment Strategy
  • 2 days Gunmen Kidnap Nigerian Oil Workers In Oil-Rich Delta Area
  • 2 days Libya’s NOC Restarts Oil Fields
  • 2 days US Orion To Develop Gas Field In Iraq
  • 4 days U.S. On Track To Unseat Saudi Arabia As No.2 Oil Producer In the World
  • 4 days Senior Interior Dept. Official Says Florida Still On Trump’s Draft Drilling Plan
  • 4 days Schlumberger Optimistic In 2018 For Oilfield Services Businesses
  • 4 days Only 1/3 Of Oil Patch Jobs To Return To Canada After Downturn Ends
  • 5 days Statoil, YPF Finalize Joint Vaca Muerta Development Deal
  • 5 days TransCanada Boasts Long-Term Commitments For Keystone XL
  • 5 days Nigeria Files Suit Against JP Morgan Over Oil Field Sale
  • 5 days Chinese Oil Ships Found Violating UN Sanctions On North Korea
  • 5 days Oil Slick From Iranian Tanker Explosion Is Now The Size Of Paris
  • 5 days Nigeria Approves Petroleum Industry Bill After 17 Long Years
  • 5 days Venezuelan Output Drops To 28-Year Low In 2017
  • 5 days OPEC Revises Up Non-OPEC Production Estimates For 2018
  • 6 days Iraq Ready To Sign Deal With BP For Kirkuk Fields
  • 6 days Kinder Morgan Delays Trans Mountain Launch Again
  • 6 days Shell Inks Another Solar Deal
  • 6 days API Reports Seventh Large Crude Draw In Seven Weeks
  • 6 days Maduro’s Advisors Recommend Selling Petro At Steep 60% Discount
  • 6 days EIA: Shale Oil Output To Rise By 1.8 Million Bpd Through Q1 2019
  • 6 days IEA: Don’t Expect Much Oil From Arctic National Wildlife Refuge Before 2030
  • 7 days Minister Says Norway Must Prepare For Arctic Oil Race With Russia
  • 7 days Eight Years Late—UK Hinkley Point C To Be In Service By 2025
  • 7 days Sunk Iranian Oil Tanker Leave Behind Two Slicks
  • 7 days Saudi Arabia Shuns UBS, BofA As Aramco IPO Coordinators
  • 7 days WCS-WTI Spread Narrows As Exports-By-Rail Pick Up
  • 7 days Norway Grants Record 75 New Offshore Exploration Leases
  • 7 days China’s Growing Appetite For Renewables
  • 7 days Chevron To Resume Drilling In Kurdistan
Alt Text

CNPC Expects Robust Oil Demand Growth In China

Chinese state-owned oil and gas…

Alt Text

The Biggest Year Yet For U.S. Shale

2018 is poised to be…

Alt Text

$70 Oil Cripples European Refiners

The surge in oil prices…

James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

Shale Play in Western Siberia is 80 Times Bigger than the Bakken

Shale Play in Western Siberia is 80 Times Bigger than the Bakken

The Bakken shale is a huge expanse of oil-bearing rock that lies underneath Northern Dakota and Montana. Oil production in the Bakken has grown from just 60,000 barrels per day (BPD) five years ago, to 500,000 bpd now. It is predicted that the formation holds more than 24 billion barrels of oil, and that given enough rigs it could produce more than a million bpd by 2020 and continue that level of production for half a century.

The Bakken shale play is one of the biggest in the US, but is absolutely dwarfed by a shale play in Russia. The Bazhenov is located in Western Siberia, and according to Oswals Clint, Sanford Bernstein’s lead international oil analyst, it “covers 2.3 million square kilometers or 570 million acres, which is the size of Texas and the Gulf of Mexico combined;” an area 80 times bigger than the Bakken.

The region which is covered by the Bazhenov has many cracks and fractures which could make its oil flow more readily, and therefore production much cheaper. A couple of test wells have been drilled in the region which operated at 400 bpd; the same as an average Bakken well.

News of the Bazhenov may be new to many of us, but geologists have actually been studying it for at least 20 years, however it is only in the last few years that the technology and expertise necessary to drill the oil has been developed.

ExxonMobil and Statoil have agreed to start joint venture operations in the region with the Russian, state-owned Rosneft in an attempt to secure access to the Bazhenov. Exxon made a recent statement which confirmed the agreement “to jointly develop tight oil production technologies in Western Siberia.”

Oswald Clint warned that oil companies will face challenges of drilling in the region as during the summer the weather in Siberia warms and softens the ground enough to prevent drilling. Although if 300 rigs can be quickly deployed he believes that by 2020 the Bazhenov play could be producing one million bpd.

By. James Burgess of Oilprice.com




Back to homepage


Leave a comment
  • Philip Andrews on June 06 2012 said:
    Exactly or even roughly how much oil are we talking about in the Bazhenov? And how would that affect/improve Russia's position as an energy producer?
  • Al Diaz on June 06 2012 said:
    It appears that oil will remain the primary worldwide source of energy for the remainder of this century. Let's stop wasting money on developing, subsidizing, and encouraging use of impractical and inefficient alternative sources of energy such as ethanol. Get ethanol out of our gasoline.
  • Mel Tisdale on June 07 2012 said:
    This is only good news if we ignore the impact the resulting increased CO2 production will have on the environment. There are troubled times ahead when the public sees through the hype and realises just how serious the situation is. Old Mother Nature doesn't give a fig about politics; her laws are immutable. Increase the atmospheric CO2 content and the temperature increases and the oceans become more acidic, period. Whilst most attention is centred on Climate Change, it is worth bearing in mind that the oceans produce 50% of our oxygen and we are doing our best to kill off the organisms that produce it. I don’t think that “Oops!” will cut it somehow.
  • Heber Rizzo on June 07 2012 said:
    Considering that for almost all of the last 600 million years of Earth history both CO2 levels and temperature have been higher (far higher in fact) that present ones, and there has been no "tipping point" and that life has thrived trough all that time:

    http://www.geocraft.com/WVFossils/PageMill_Images/image277.gif

    ... these are good news, indeed!
  • Butch Verrando on June 08 2012 said:
    Mel contrary to what EPA thinks CO2 is not a pollutant, and as long as the Earth is a living biosphere it will experience climate change. By stating that “her laws are immutable” you imply that you know what those laws are, and that those laws indicate the oceans will somehow become damaged.

    Nature has been running this game for a very long time, and I would suggest that what man does will not have the slightest effect on the Earth’s environment. CO2 has been much higher proportion of the atmosphere in the past and the planet did not melt! As a matter of fact plants grow better. You know of course that plants pretty much stop growing at around 280 PPM.

    We need to use these oil resources and stop jousting with wind mills like Don Quixote, you greenies are promoting a Marxist agenda and it needs to stop.
  • Ron Wagner on June 12 2012 said:
    Natural gas is the future of energy. It is replacing dirty and dangerous coal and nuclear plants. It is producing the electricity for electric cars. It will directly fuel pickup trucks, vans, buses, long haul trucks, dump trucks, locomotives, aircraft, ships etc. It will keep us out of more useless wars, where we shed our blood and money. Here are over 200 recent links for you: https://docs.google.com/document/d/1NbaKYme3bqOw0b6KMxXSjOLHLNeflalPy9gIAiTYFMQ/edit
  • Mark_BC on April 03 2013 said:
    True, CO2 was much higher in the Earth's past. But the sun has also been getting much brighter as CO2 dropped, which tends to counteract.

    Butch, humanity currently appropriates 1/4 of every single piece of vegetation that grows on planet Earth. To say that we will have the slightest effect on the planet is totally absurd.

    There is nowhere near enough natural gas to replace oil for any significant length of time.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News