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Shell pins hopes on 'unconventional' growth

08/01/2018
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The Chief Executive of Shell, Ben van Beurden, has said that growth of the company’s Oil & Gas operations over the next 10 years will depend largely on shale production and similar unconventional resources.
Shell is focusing on shale plays across the Americas as a primary source of production growth.
(Image via Shell).

Speaking to the Financial Times van Beurden highlighted chemicals, electricity and biofuels as key sectors for Shell’s future focus as the company increasingly envisions a post-fossil fuels world (or at least one in which there are ever tighter constraints on fossil fuel usage).

So, what does Shell’s focus on shale look like?
Shell will be investing heavily in the Permian Basin and Duvernay Shale.
According to reports, Shell will be following the actions of other supermajors such as ExxonMobil and Chevron in focusing upon shale reserves across the Americas as a principal source of new production over the coming years.

In practical terms, this will see Shell investing larger amounts in the Permian Basin and Duvernay Shale, aiming to double total production of unconventional Oil & Gas from approximately 250,000 barrels of oil equivalent a day in 2017 to approximately 500,000 boe/d by 2020.

As part of these plans, Shell is focusing on reducing the production costs associated with shale. It is reported that the company has already cut the cost to drill and complete each well in the Permian by 35 per cent over the past two years. 

As we’ve reported previously here at EngineeringPro, new technologies are transforming onshore Oil & Gas production with a primary outcome being lower production costs.

Shell’s Chief Executive is confident that shale will prove to be a profitable avenue for the company’s Oil & Gas business, stating that ‘lower costs and the recovery in oil prices means you will see a tremendous amount of growth’ in cash generation from shale.

Want to work in the growing shale industry? Register with Fircroft today to open up a world of Oil & Gas jobs.
Tags: Oil & Gas
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Shell pins hopes on 'unconventional' growth - Time to read 2 min
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