Tatarstan workes out shale oil project

Tatarstan Academy of Sciences has worked out and submitted to the government the draft program of development of shale oil fields, Renat Muslimov, Tatarstan President Consultant for oil and gas industry, one of the authors of the document, told Business Online, which is based in the capital of Tatarstan Kazan.

He said the program consists of three parts. The first part is devoted to evaluation of perspectives, the second – evaluation of possibility and the third one – evaluation of economy of extraction and resources.

“We minimum budget of the program is 195 million rubles,” said Muslimov. He added that the program implementation could take 5-6 years.

He also said that authors of the project have invited a company from the US Texas state, which specializes in fracking studies, for consultation. The company is among 32 companies of the world consortium development shale oil and gas.

Muslimov said that the US is 20 years ahead of Russia when it comes to technologies. Asked if it is more advisable to let them implement the project in Tatarstan, he answered that this will be expensive, because “one well will cost $3-5 million, while plan to spend 200 million rubles for the whole program. We have to use our own resources – Kazan Federal University will work on the scientific part of the project and Tatneft company will work on the technological part.”—0--