South Africa’s ponders on Shale gas exploration

South Africa is seeking to tap as much as 485 Tcf of gas resources in the Karoo, published draft regulations governing hydraulic fracturing on October 15, a year after lifting a ban on fracking.

President Jacob Zuma said, ‘South Africa must pursue the potential for shale-gas drilling in the Karoo region because it may transform the country’s economy’.

The government will decide whether to allow shale-gas exploration in the region early next year after consulting local communities, Zuma was also quoted in Hozatel, Northern Cape province according to news reports.

Companies should “care for the environment” as they look for viable shale-gas reserves, Zuma said. Given the opportunity for the Karoo region and the economy as a whole, “we must explore this potential.”

It seems 2014 will be the year of the Shale!!

Oil and Gas Press