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CHAPTER TWO
Developments of Energy Resourrces
Unconventional hydrocarbon resources received less focus inArab
countries. In
Morocco
for example, San Leon has commissioned
Enefit Outotec Technology(EOT) to conduct a study of an oil shale
retorting project in a newly awarded onshore shallow oil shale mining
area in Morocco
i
, in addition to San Leon
’
s Tarfaya In Situ oil shale
acreage of 6,000 sq km which will be pursued in parallel. A study by
Shell in 1985 of an open pit mining project located on a site adjacent
to the newly awarded blocks established that mineable reserves from
this location were more than sufficient for a 50 thousand barrels per
day production over 30 years.
Saudi Arabia
-as previously mentioned- has plans to boost its
natural and unconventional gas production by 250% within the
coming 20 years.
Internationally, many countries are showing increasing interest in
the unconventional hydrocarbon resources.
In
Argentina
, Repsol YPF SA’s Argentina unit said its shale oil
resources at the Vaca Muerta Formation in the south of the country
probably hold about 23 billion barrels. The estimates came after
drilling operations in the Neuquen province and reviews of the area
by independent consultation body. The company said $25 billion a
year will be needed over a decade to develop the discovered shale oil
resources
ii
. Later on, YPF which is Argentina’s largest oil producer,
announced that it will invest $1.2 billion in shale oil in 2013, as it
seeks to boost crude output after the government nationalized the
company and opposed dividend payments. YPF will invest a total of
$7 billion in 2013 as it plans to double exploration in five years and
boost refining, the company will drill 1,019 wells in 2013, up from
i
Oil Voice, 29/8/2012
ii
Bloomberg Business, 9/2/2012
