Petroleum Africa
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Monday, May 26, 2014
Algeria will move forward to take advantage of its large shale gas reserves. The statement carried by the state news agency, APA, said Algeria’s Council of Ministers gave the go ahead to continue work developing unconventional gas. The next step will have the country finding foreign partners to help it exploit those reserves.
According to the EIA, Algeria holds the world’s technically recoverable shale gas reserves with 707 Tcf of reserves; it has yet to be determined if these reserves are commercially viable, although at 707 Tcf it would be hard to fathom none of them being viable.
Algeria plans to drill 11 wells over the next seven to 13 years according to the APA report.
The country recently added amendment to its hydrocarbon laws that offer incentives to firms that explore for shale gas in the country.
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