Russia Touts Unconventional Gas Promise

Russia may have 2 1/2 times more unconventional gas resources than conventional supplies, according to OAO Gazprom.

The country may hold as much as 680 trillion cubic meters of unconventional resources, which include gas from shale, sandstones and coal beds, Viktor Skorobogatov, director of the gas resources center at Gazprom’s VNIIGAZ research unit, said in an interview in the company’s corporate magazine.

“No country in the world can compete with Russia in terms of the volume of natural-gas reserves and its vast resource potential in both traditional and unconventional,” commented Skorobogatov. Russia’s conventional gas resources total at least 250 trillion cubic meters, out of a global total of 600 trillion to 650 trillion cubic meters, he said.

The holder of the world’s biggest natural-gas reserves, Russia has concentrated on conventional gas production.  However, that focus saw the nation overtaken by the U.S. as No. 1 gas producer in 2009, as advances in technology made shale drilling economically feasible in North America.

Gazprom and Russian officials had originally downplayed the prospects and impact of the unconventional gas “revolution”.  However, President Vladimir Putin shifted course this past April, urging Russian energy producers to “rise to the challenge” of a changing market.  With Putin’s acknowledgment of the impact of shale-gas production, Russia says it is now “actively studying,” the hydraulic fracturing process.

Russia’s shale-gas resources are estimated at about 5 trillion to 20 trillion cubic meters, Skorobogatov said. Hydrates account for about 75 percent of all the nation’s unconventional resources, or 500 trillion cubic meters, followed by tight gas at 110 trillion cubic meters and coal-bed methane at 50 trillion cubic meters, he said.

As much as 90 percent of Russia’s unconventional resources are located in the east, mainly in the Urals and Siberia, according to Skorobogatov. Coal-bed methane and tight-gas ventures, already under development as pilot projects, may start producing after 2020, while development of hydrates and shale won’t start before 2025 or 2030, he said.

Cited from http://www.naturalgaseurope.com/

May 2013

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Baker Hughes Fractures its First Unconventional Shale Well in Argentina

HOUSTON, TEXAS - July 26, 2011 - Baker Hughes (NYSE: BHI) announced it has completed its first unconventional hydrocarbon shale hydraulic fracturing and stimulation project in Argentina for YPF in the Neuquén basin.

The multistage fracturing operation was performed using over 12,000 hydraulic horsepower and a total fluid volume exceeding 7,000 cubic meters. Baker Hughes also provided coiled tubing services for the project. The firm was awarded the job based on its capabilities and performance in unconventional hydrocarbon plays.

YPF is currently evaluating the well results to determine the potential for expanding its operations. Several operators are developing and executing exploration plans in Argentina's unconventional hydrocarbon plays. Currently, Baker Hughes has the largest available hydraulic fracturing horsepower capability in Argentina and is well positioned with assets, people and technology to support the growing unconventional hydrocarbon activity.

"While the bulk of unconventional shale activity has been in the U.S., interest in shale plays in other parts of the world are beginning to expand and indications are that Argentina will be a promising area for international success," says Rod Larson, president of Latin American operations for Baker Hughes. "We are positioning our operations in Latin America to support this new market and we are leveraging our capabilities and lessons learned in the U.S. to help operators in Argentina develop the country's unconventional resources." Baker Hughes has been active in Argentina for more than 50 years.

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Baker Hughes provides reservoir consulting, drilling, formation evaluation, completion, pressure pumping, and production products and services to the worldwide oil and gas industry.

CONTACTS:
Media Relations: Teresa Wong, +1.713.439.8110, teresa.wong@bakerhughes.com
Investor Relations: Adam Anderson, +1.713.439.8039, adam.anderson@bakerhughes.com

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