Shale turns up the volume
4 Jun 2013
A report by prospector IGas has stated that reserves of shale gas could fuel the UK for at least five years.
The report, which was conducted using a model consisting of 300KMs of seismic lines, collected data on the thickness of the shale and the characteristics of the shale formation.
Technical studies suggested an estimated 15.1 to 172.3 trillion cubic feet (TCF) of gas sit in the North West.
The announcement of the gas in place volumes of up to 170TCF…
Though the estimate is most likely closer to 100 TCF, the forecast completely shadows previous approximations of more than 9TCF.
IGas chief executive, Andrew Austin has stated that only a portion of the gas could be recoverable but the potential to fuel Britain remains nonetheless.
“The announcement of the gas in place volumes of up to 170TCF in our North West acreage follows the completion of a very thorough study by the IGas Technical team,” stated Austin.
The drilling programme that is set to commence towards the end of 2013 will be the basis for refining the current estimates.
The IGas team will be able to accurately determine the prospective volume of shale resources in the licence areas, offering a firmer figure on the potential impact shale gas could play in the UK’s energy future.
