Skip to comments.Shale Play in Western Siberia is 80 Times Bigger than the Bakken
Posted on 06/10/2012 4:00:58 PM PDT by Recon Dad
The Bakken shale is a huge expanse of oil-bearing rock that lies underneath Northern Dakota and Montana. Oil production in the Bakken has grown from just 60,000 barrels per day (BPD) five years ago, to 500,000 bpd now. It is predicted that the formation holds more than 24 billion barrels of oil, and that given enough rigs it could produce more than a million bpd by 2020 and continue that level of production for half a century.
The Bakken shale play is one of the biggest in the US, but is absolutely dwarfed by a shale play in Russia. The Bazhenov is located in Western Siberia, and according to Oswals Clint, Sanford Bernsteins lead international oil analyst, it covers 2.3 million square kilometers or 570 million acres, which is the size of Texas and the Gulf of Mexico combined; an area 80 times bigger than the Bakken.
The region which is covered by the Bazhenov has many cracks and fractures which could make its oil flow more readily, and therefore production much cheaper. A couple of test wells have been drilled in the region which operated at 400 bpd; the same as an average Bakken well.
News of the Bazhenov may be new to many of us, but geologists have actually been studying it for at least 20 years, however it is only in the last few years that the technology and expertise necessary to drill the oil has been developed.
ExxonMobil and Statoil have agreed to start joint venture operations in the region with the Russian, state-owned Rosneft in an attempt to secure access to the Bazhenov. Exxon made a recent statement which confirmed the agreement to jointly develop tight oil production technologies in Western Siberia.
Oswald Clint warned that oil companies will face challenges of drilling in the region as during the summer the weather in Siberia warms and softens the ground enough to prevent drilling. Although if 300 rigs can be quickly deployed he believes that by 2020 the Bazhenov play could be producing one million bpd.
Siberia belonged to myChina 180 year ago. Russia is in serious need of labor in them parts and China is accommodating them with serious lift of immigrants.
Once a threshold of emigres and financial tints to Chinas faire they won’t even make demand on Russia, whose populace is aging and it census shrinking, then China will just declare reunification .....
Look for it in about 10-15 years....
I haven’t read that one. Thanks for making me aware of that one.
Add in the fact that Russia’s population is imploding, and there will be real problems maintaining Siberia. I think Russian nukes, combined with Russia’s willingness to get nasty, trump all though.
The best hope is to repopulate Siberia with Western Oil companies and their workers. Alaska is perfectly placed as a transit location for equipment, supplies, and people. This could be quite lucrative for all involved, including oil consumers as prices fall from increased global supply.
I’m getting my popcorn ready!
Do you remember the part where the young woman states that she prefers Japanese sausages to Chinese noodles?
A “play” was a gamble. Your money was in play or on the table to win big or lose.
One day the oil in the Arab world will disappear and all that will be left is oil in the western world.
Then they can go back t the 7th century.
Oh no, let me correct you sir. I have been reliably informed by many ahem "experts" on the matter (all of whom by the strangest coincidence happen to be arch-leftists) that we reached peak oil production about twenty years ago. So there is no more oil to be found. Despite the fact that we keep finding enormous reserves of the stuff. Does that make sense to you? Yeah, me neither.
there’s probably huge reserves of oil in chiner that have not been discovered.
But, but, are there any spotted owls in that area the size of Texas and the Gulf of Mexico combined? How about salamanders? Salmon?? Tree toads? Polar Bears? Lakes and Rivers, or maybe pretty mountain scenery
Surely something will take all that land out of production!
Or maybe the Russians will just gut the land and ruin Gaia for the rest of the human race - even before globull warming kills us all off!
For more than a decade I've said that the world is awash in oil.
I've been laughed at, including even here on FR, more than a few times. Not lately though.
The Russians still have one heck of a nuclear arsenal. You think they wouldn’t use it if the Chinese invaded Siberia?
80X the land area, only 2X the potential recoverable reserves. That was a very deceptive headline.
Extra butter baby!
80 times bigger? Really? They know already?
Sounds like typical 3rd-world hype and attempt to get Western oil co’s with deep pockets into a bidding war.
It’s a shale formation and it’s huge. I guess Exxon Mobile will give it a run. The conditions could be an issue along with logistics, but the industry seems to overcome almost anything.
China is experiencing a labor shortage right now and their one child policy means that in the next 10-15 years their population will start dropping rather quickly.
Not to mention all the social problems inherent with a population having a distinct shortage of females due to female infanticide as a result of the one child policy. It is a double whammy on future population.
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