Shale revolution headed to Saudi Arabia

Houston Chronicle:
Saudi Arabia will partner with Houston-based Halliburton as it hopes to unlock a natural gas revolution similar to the shale boom that began in the U.S. more than a decade ago.

State oil company Saudi Aramco signed a three-year contract Sunday with the North American fracking leader to handle the hydraulic fracturing and completions of its unconventional gas wells. Saudi Arabia hopes to rely much more on its domestic gas to power the Kingdom's electric grid.

HIGH-PROFILE VISITOR: Saudi crown prince wraps up U.S. tour in Houston

Whiles Saudi Arabia is known as the world's largest oil exporter, it has vast supplies of gas as well, but much of it is difficult to recover from shale rock and tight sand. The goal is to use the unconventional drilling and fracking technologies developed in the U.S., especially in Texas, to tap into those gas resources.

The effort also is part of Saudi Arabia's "Vision 2030" modernization plans to open Saudi's energy sector to foreign investors, including taking Aramco public eventually, while diversifying globally, especially along the Texas Gulf Coast. Saudi Arabia is increasingly investing in Texas petrochemical plants and refineries from Corpus Christi to Port Arthur.

The deal comes just a month after Crown Prince Mohammed bin Salman, the heir to the Saudi throne, capped a three-week U.S. tour in Houston, where he underscored the Kingdom's long-standing energy ties to the region.
They should have no shortage of sand to work with.

While much of the4 natural gas is intended for domestic production they will likely become a regional competitor with Iran in teh natural gas business.  They are starting this project as Iran is again facing US sanctions.


Popular posts from this blog

Police body cam video shows a difference story of what happened to George Floyd

The plot against the President

While blocking pipeline for US , Biden backs one for Taliban