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FINANCIAL NEWS
Kuwait evaluating shale gas extraction
13 Apr 2013
(MENAFN) A Kuwaiti oil sector official announced that the major oil producer is studying the possibility of extracting shale gas from its northern fields, reported Arabian Business.
The official added that in case the emirate moves ahead with the plan, it would work with a company specialized in shale gas production, noting that under the right conditions, Kuwait’s daily output of gas could reach between 150 and 200 million cubic feet.
He said that output will depend on the technology available, as the gas reservoir is complex.
It is worth noting that Kuwait’s oil output capacity stands at 3 million barrels per day (bpd).
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