Argentina and China lead shale development outside North America

2015年06月30日 投资美国石油俱乐部



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Source;Energy Information Administration and AdvancedResources International


As recently as last year, only four countries in the world were producingcommercial volumes of either natural gas from shale formations (shale gas) orcrude oil from tight formations (tight oil): the United States and Canada, andmore recently, Argentina and China. Beyond these four countries, othercountries have started exploring hydrocarbons from shale and other tightresources, but they are still short of reaching commercial production.

The 2013 World Shale Gas and Shale Oil Resource Assessment, produced byEIA and Advanced Resources International (ARI), noted large shale deposits inChina and Argentina. Exploration and drilling is already underway in thesecountries. For the last two years, China has drilled more than 200 wells, andArgentina has drilled more than 275 wells. Each country has the potential tosignificantly increase production of shale gas and tight oil.

In Argentina, many international companies hold leases and have drilledwells in shale formations. Much of the initial activity has targeted shale oiland natural gas in the Neuquen Basin's Vaca Muerta shale formation, located inwest-central Argentina. National energy company Yacimientos PetroliferosFiscales (YPF), the largest shale operator in the country, reported productionin April 2015 of 22,900 barrels per day (b/d) of oil and 67 million cubic feetper day (MMcf/d) of natural gas from three joint ventures in Vaca Muerta: onewith Chevron at the Loma Campana field, a second one with Dow Chemical at theEl Orejano field, and a third joint venture with Petronas at La Amarga Chicafield. In addition, China's national oil company Sinopec and Russia's nationaloil company Gazprom have recently signed a memorandum of understanding with YPFto jointly develop shale from the same basin.

China has targeted the Longmaxi formation in the Sichuan Basin, locatedin south-central China, as its initial shale gas exploration and developmentobjective. While several international companies are active in China, much ofthe early effort has been led by Sinopec and China National PetroleumCorporation's (CNPC) PetroChina, two of China's national oil companies.According to China's Ministry of Land and Resources, these two companies are onschedule to reach 600 MMcf/d of shale gas production by the end of 2015. CNPChas drilled 125 shale wells, bringing 74 of them into production, and is onschedule to produce 250 MMcf/d of shale gas by the end of this year. Sinopechas a commercial-scale effort underway at the Fuling shale gas field in theSichuan Basin, currently producing 130 MMcf/d. By the end of 2014, Sinopeccompleted 75 test wells at the Fuling field, with plans to drill an additional253 wells.

Other countries have also begun to explore shale gas and tight oil,including Poland, Algeria, Australia, Colombia, and Russia. Shale oil andnatural gas exploration drilling is also underway in Mexico, particularly inthe country's portion of the Eagle Ford Shale and in La Casita formation withinthe Burgos Basin in northeastern Mexico. In May 2015, the national oil companyPetroléos Méxicanos (Pemex) released the results for 13 of its shaleexploration wells, with 10 of these categorized as commercial. These 10 shalegas wells have initial production ranging from 2 to 11 MMcf/d. Pemex alsodrilled three horizontal wells into the Tampico-Misantla Basin's Pimientaformation in 2013, and the company plans to complete all three wells this year.


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