• 4 minutes Pompeo: Aramco Attacks Are An "Act Of War" By Iran
  • 7 minutes Who Really Benefits From The "Iran Attacked Saudi Arabia" Narrative?
  • 11 minutes Trump Will Win In 2020
  • 15 minutes Experts review Saudi damage photos. Say Said is need to do a lot of explaining.
  • 7 mins Ethanol is the SAVIOR of the Oil Industry, Convenience Store Industry, Automotive Supply Chain Industry and Much More!
  • 4 hours Let's shut down dissent like The Conversation in Australia
  • 12 hours One of the fire satellite pictures showed what look like the fire hit outside the main oil complex. Like it hit storage or pipeline facility. Not big deal.
  • 10 hours Saudi State-of-Art Defense System looking the wrong way. MBS must fire Defense Minister. Oh, MBS is Defense Minister. Forget about it.
  • 19 hours Donald Trump Proposes Harnessing Liberal Tears To Provide Clean Energy
  • 18 hours Saudis Buying Oil From Iraq
  • 12 hours Trump Accidentally Discusses Technology Used In The Border Wall
  • 4 mins Ethanol, the Perfect Home Remedy for A Saudi Oil Fever
  • 10 hours Hong Kong protesters appeal to Trump for support.
  • 1 day Drone attacks cause fire at two Saudi Aramco facilities, blaze now under control
  • 3 hours Collateral Damage: Saudi Disruption Leaves Canada's Biggest Refinery Vulnerable
  • 19 hours Saudis Confirm a Cruise Missile from Iranian Origin
  • 3 hours Iran in the world market
Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

An Unlikely Shale Frontier

Algeria is eager to attract Big Oil majors such as Exxon and Chevron to its shale patch to tap its massive gas reserves, estimated to be the third-largest in the world, Bloomberg reports.

Currently, state-owned Sonatrach accounts for 90 percent of oil and gas development in the country, but it wants this to change. At this week’s World Gas Conference, the company’s chief executive Abdelmoumen Ould Kaddour said, “We need a lot more companies to come explore. We’re talking to all the big companies.”

Exxon is a favorite, it seems, for the shale patch, which contains an estimated 2,000 trillion cu ft of gas, according to Kaddour. “Exxon Mobil is Exxon Mobil. They have huge experience in that field, and they use technology that could be positive for our development,” the executive said.

Algeria’s state company is already in discussions with Exxon about its potential participation in developing Algeria’s oil and gas reserves. Negotiations started in January this year.

Earlier this year, Kaddour said Sonatrach planned to increase its revenues by US$67 billion by 2030, with half of this being reinvested in further development. However, it needs foreign help with these plans and also needs to deal with local opposition. Related: Power Grab In Libya Threatens Oil Industry

The shale gas reserves of Algeria are concentrated in the south of the country, where the population is against gas exploration. Development plans for the area were already stopped by local protests, but Sonatrach’s chief is actively seeking ways to convince the local community leaders that the plans will benefit them.

The exploitation of Algeria’s shale gas reserves is not simply an attempt to boost fossil fuel revenues. Local consumption is surging because of fast population growth, and this is hurting exports, which go mainly to Europe. Last year, Algeria exported an estimated 54 billion cubic meters, down from 57 billion cubic meters in 2016.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play