Sunday, January 06, 2013

North America Riding High on Shale; Now It's the World's Turn

The US and Canada are experiencing a significant economic, energy, and environmental bonanza, due to the shale boom. Now it is the rest of the world's turn to learn from North American experience.
Countries embarking on shale gas development worldwide stand to benefit from lessons learned in US shale gas operations and water management, according to a recent report from Accenture. Operators, meanwhile, could cut both costs and water use in unconventional plays worldwide by collaborating with regulators and sharing infrastructure with other operators in the same basin, said the Accenture report, “Water and shale gas development: leveraging the US experience in new shale developments.”

Accenture analyzed how countries with proved shale gas reserves, specifically Argentina, China, Poland, and South Africa, can look toward experience gained in US water regulation and management to develop shale gas economically and sustainably.

“Successful oil and gas operators will be those that understand the local water challenges, leverage the learning from the US plays, and develop the right water sourcing, use-reuse, treatment, disposal, and supply chain strategy,” said Melissa Stark, managing director and Clean Energy lead for Accenture's energy industry group.

“One key opportunity for new geographies where infrastructure is a challenge is to explore sharing the development of infrastructure, water treatment facilities, and the development of the local supply market.” _O&G Journal _ via _ GWPF

Key Findings of Accenture report & link to full report PDF download

The tight gas & oil revolution is likely to help a score of nations around the world to boost their energy and industrial infrastructures -- at least for a matter of decades.

China, Argentina, Russia, Australia, and parts of Eastern Europe are likely to be the earliest beneficiaries to join North America in experiencing the bonanza. Africa, central Asia, and large areas of coastal regions and continental shelf may also display significant new tight oil & gas.

The evolution of oil production in both conventional and unconventional deposits will reflect the overall economics of global oil demand and supply.

The tight oil & gas boom was the result of small private concerns pursuing unpopular theories of production. Big oil and governments had almost nothing to do with this huge boom coming about.

The neo-Malthusian doomer psychology of imminent catastrophic energy depletion has influenced the thinking of policymakers in both government and industry for several decades now -- to the detriment of rational planning and development.

The rumour that doomers are partial to eating lead-based paint chips should perhaps be investigated more closely.

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