Algeria authorizes shale gas exploitation

Algeria’s Cabinet has said it will move forward with the exploitation of the country’s large shale gas reserves. The statement carried by the state news agency gave the green light to finding foreign partners to exploit the reserves. According to a 2013 report by the US Energy Information Administration, Algeria is third globally after China…


Argentine Vaca Meurta shale prospects boosted by Exxon, Chevron

Argentina is benefiting from the experience of the world’s largest oil companies as it develops shale deposits in a bid to gain energy independence, a board member of a provincial oil company told Bloomberg. Exxon Mobil and provincial-run Gas & Petroleo del Neuquen SA, or GYP, yesterday reported their largest shale discovery in southern Argentina’s Vaca…


China’s Sinopec, Weatherford in oil services JV to tap shale gas

Sinopec Group is forming a joint venture oilfield services company with U.S.-listed Swiss HQed Weatherford International in a development that may give the Chinese state owned energy firm the lead in tapping the nation’s shale resources. The joint entity, probably the largest of its kind in China, aims to meld Weatherford’s technological and management know-how…


Russia’s Lukoil to drill for tight gas in Saudi desert, while Saudi Aramco works on new fracking techniques

Russia’s Lukoil is set to drill deep for unconventional gas in Saudi Arabia’s challenging “Empty Quarter” desert region early next year after a decade-long hunt for conventional deposits that has proved futile, according to a report by the Reuters news agency. The world’s top oil exporting nation invited international oil companies (IOCs) – such as…


Australia’s Northern Territory budget supports minerals, shale gas exploration

Australia’s Northern Territory Government has promised the with the resources sector promised $23.8 million over four years to go towards a new program to assist exploration miners discover new resources in its 2014 Budget, encouraging minerals exploration. The Creating Opportunity for Resource Exploration (CORE) initiative will create partnerships between exploration companies and the Government, where…