Abu Dhabi’s Supreme Petroleum Council (SPC) has confirmed the discovery of vast quantities of unconventional gas reserves as part of a sizeable upgrade of the emirate’s oil and gas deposits. And the SPC has no intention of just sitting on the reserves: “in a first for the region [they will] usher in a new era of large-scale unconventional hydrocarbon resources development,” it says.
Overall, the SPC says Abu Dhabi’s proven oil reserves have been increased by 7bn barrels to 105bn (7%). Meanwhile, conventional gas reserves were up a massive 30% (58tcf) to 273tcf. (CONTINUED - 540 WORDS)