The Minister of natural resources and ecology of Russia Sergey Donskoy said about the end of the shale era. His opinion, he explained the signing by the President of the United States of a new licensing program of the continental shelf
Sergey Donskoy in his Facebook left a message that he began with the words “end of the shale era”. According to him, signed by Donald trump licensing program of the offshore waters of Alaska, Central and South Atlantic means that the current administration considers a clear priority of the shelf.
“The new administration is betting on offshore production, despite the significantly greater costs compared with projects in shale oil production,” wrote don.
It is the desire to develop the shelf, the Minister explained that foreign barriers to projects in Russia. “The latest example is the decision of the U.S. Treasury for management Exxon Mobil drilling operations in the framework of its JV with Rosneft”, – he wrote. On April 21 the head of the financial Department of the USA Stephen Mnuchin said that the Finance Ministry won’t allow any American companies, including ExxonMobil, to conduct drilling where prohibited sanctions. Mnuchin noted that this decision was taken after consultation with Donald trump.
Don reminded that the resource potential of the continental shelf of the United States is estimated at 12.3 billion tons of undiscovered technically recoverable oil and 9.3 trillion. cubic meters of undiscovered technically recoverable natural gas.
The order of trump from April 28 reversed the decision of Barack Obama in 2010, which restricted the extraction of minerals on the shelf after the oil spill in the Gulf of Mexico. The President expressed confidence that his decision to return funds to oil companies and create thousands of high-paying jobs.
Senior analyst at Sberbank CIB Vasily Nesterov, commenting on the decree trump indicated that by 2018, production is not the continental shelf of the Gulf of Mexico could rise to 95 million tonnes per year. However, he notes that most of the sites refers to the deep-water processes and intelligence there is is expensive.
With this opinion agreed and Raiffeisen Bank analyst Andrei Polishchuk. According to him, depending on the degree of scrutiny expected offshore operations in the period from 5 to 20 years.