The development of unconventional oil and gas resources is gaining momentum across the world, with China and Australia becoming two of the most important emerging markets for shale and Coal Bed Methane (CBM) exploration, says GlobalData.
According to the company’s latest report, China has approximately 643 billion barrels (bbl) of risked, prospective shale oil and 4,746 trillion cubic feet (tcf) of risked shale gas in-place – of which around 32 billion bbl and 1,115 tcf are estimated to be technically recoverable.
Australia, meanwhile, is also witnessing a substantial development of CBM and shale gas resources, according to GlobalData. The country already has a well-developed CBM industry, which would support a number of planned LNG export projects.
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