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Algerian shale gas potential equal to that of U.S.

Algerian Energy Minister Youcef Yousfi revealed that his country' s reserves of shale gas are equal to that of the USA, Algerian Press Service (APS) has reported.

“The initial results of the evaluation of the non-conventional gases, mainly shale gas, showed that reserves in the country are at least equal to the US reserves,” APS quoted Yousfi as saying.

Shale gas development in America has driven a multi-billion dollar scramble for assets, field development, and impacted global gas forecasts.

The minister also called all companies interested in development such type of gas and hold the necessary technical knowledge to develop these fields with the optimal conditions. “A huge reforms related to the law have been adopted with the aim to intensify prospection mainly in the offshore and the areas unknown,” he added.

In May 2011, Algeria’s state controlled energy company Sonatrach has signed a cooperation agreement with Italian company Eni, for the development of unconventional oil and gas in Algeria, with particular focus on shale gas.

"Based on previous assessments, Eni confirms the significant shale gas reserves in Algeria which Eni and Sonatrach wish to explore and develop. This will enable both companies to make important discoveries which will enhance the gas potential of the country,” Eni and Sonatrach said in their joint statement.

 

02/28/2012

 

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