Jul 30 2012 |
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Sonatrach Accelerates Shale Studies
Sonatrach Accelerates Shale Studies
Building on its agreement last April with Italy�s Eni, Algeria has signed a deal with Canada�s Talisman to study the country�s shale gas resources and is in talks with both Shell and ExxonMobil to conclude similar arrangements, says CEO of state-owned Sonatrach , ΄Abd al-Hamid Zerguine. An initial Memorandum of Understanding (MOU) with Shell covering shale gas studies in the central Moudire Basin was signed late June/early July, and the major hopes this can be soon be developed into a full blown agreement one source told MEES on 26 July.
The Talisman deal covers shale oil and shale gas potential in the prolific Berkine/Illizi basins area. �It is a data study only,� says a Talisman spokeswoman, adding that it did not give the firm �any exclusive exploration rights to any defined area of land.� Algerian state firm Sonatrach estimates the country has at least 760 trillion cu ft of recoverable shale gas reserves and is drilling the country�s first shale gas well in the Ahnet Basin with two further wells to follow. Shell is also looking at shale gas opportunities in Tunisia (MEES , 18 June).
© Copyright MEES 2012.
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