Can Russia Develop Its Shale Reserves?

6 Sep 2017   Russia, Shale Oil

Russia’s tight oil will play an increasingly important role in its oil output, underpinned by the fact that 20 percent of its current reserves already belong to the “tight” category. Most of it, however, remains untapped as oil producers prioritize traditional projects which entail lower production costs and time-honored technological solutions. As the traditional variants of production gradually move towards depletion, it is tight oil that oil companies will inevitably turn to. Mostly located below historically formed oil-producing regions, these tight oil reserves come with a well-developed infrastructure and supply logistics. However, one sees significantly more media coverage on Russia’s Arctic, than its tight oil. The reason, you ask? Using traditional methods, tight oil’s recovery factor is a mere 3-5 percent, therefore it is evident that its development requires new tailor-cut approaches, which, unfortunately, have been severely lacking. Generally speaking, the development of Russia’s tight oil reserves is hindered […]

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