UK must ‘invest £33bn to start shale gas production
An estimated £33 billion needs to be invested to bring UK shale wells into production between 2016 and 2032, says a new report.
That includes up to 4,000 horizontal wells, around £20.5 billion for hydraulic fracturing – the controversial process of extracting shale gas – and more than £4.1 billion for drilling fluid and water waste management, including storage and transportation.
The study, commissioned by the onshore oil and gas industry and part funded by the Department for Business, Innovation and Skills (BIS), expects shale gas production levels at its peak to be equivalent to heating more than 20 million homes and create more than 6,000 direct site development jobs.
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Source: Energy Live News