In mid-March Naimi gave an estimate of over 600 trillion cubic feet of unconventional gas reserves, more than double its proven conventional reserves. That estimate would put Saudi Arabia fifth in a 32-country shale gas reserves ranking compiled for the U.S. Energy Information Administration.
Shale is only a long-term prospect, however. Saudi Aramco, which Naimi has said will drill only around seven shale gas test wells in 2013, is still focused on tapping conventional gas.
“The nature of exploration is to target long-term requirements, typically 10 or 15 years into the future … The shale gas exploration programme is just starting, and it’s an important part of the effort to assess the kingdom’s resources for the future,” Sadad al-Husseini, a
former top Aramco executive, said.
Yet Aramco is keen to increase gas output, because at it can make $100 a barrel by exporting crude oil, which it sells to Saudi power plants for around $4 a barrel due to a lack of gas.
▻http://gulfbusiness.com/2013/04/saudi-kings-of-oil-join-the-shale-gas-revolution