US awards $30m to boost shale oil and gas recovery
The US Government is providing a share of $30 million (£21.5m) for six unconventional oil and gas recovery projects.
They aim to address critical gaps in the understanding of reservoir behaviour and optimal well completion strategies and advanced offshore technologies.
The projects selected are in what is known as unconventional shale development, which currently each produce less than 50,000 barrels per day.
The selected projects are at sites including the Tuscaloosa Marine Shale, estimated to contain seven billion recoverable barrels of light, crude oil and the Huron Shale, rich in natural gas.
The Department of Energy said the funding will help “master oil and gas development in these types of rising shales” and ensure the “maximum value of the nation’s resource endowment is realised”.