The Energy Information Administration continues to expand its assessment of technically recoverable shale oil and natural gas resources around the world.
The organization added four new countries – Chad, Kazakhstan, Oman and the United Arab Emirates – to the previous 42 countries. The additions resulted in a 13 percent increase in global assessed total resource estimate for shale oil and a 4 percent increase for shale gas.
A total of 26 formations within 11 basins were analyzed in the new countries. The formations contain significant volumes of technically recoverable resources, but there is currently no shale exploration underway.
The newly assessed resources are not yet economically recoverable. The portions of these resources that become economically recoverable in the future depends on crude oil and natural gas market prices, as well as the capital and operating costs and productivity within the countries.
According to the EIA, each of the countries has an existing oil and natural gas industry with infrastructure connecting the basins to global markets.
Chad produced 78,000 barrels per day in 2014, down 55 percent from 2005.
Kazakhstan’s oil production increased by 24 percent from 2005 to 2014, while natural gas production increased 37 percent to 1.9 billion cubic feet per day.
Oman increased oil production by 18 percent to 943,000 bpd. Natural gas production was up 32 percent to 2.8 bcf/d.
The United Arab Emirates increased oil production by 21 percent to 3.7 million bpd. Natural gas production rose 18 percent to bcf/d.
The newest resource estimates indicate proved and unproved technically recoverable resources of 419 billion barrels of shale oil and 7,576 trillion cubic feet of shale gas resources within 46 countries. Only four countries – the United States, Canada, China and Argentina – are currently producing oil and natural gas from these resources at commercial scale.