UKOOG estimates it will take 6 years to complete the exploration and development stages to bring a single pad with 40 lateral wells into production - unknown flow rates of the UK resources - snails pace of exploration - UK shale estimates still incomplete and little or no exploration drilling and appraisal have yet been undertaken - over the next two to three years between 20 - 40 wells will be drilled for exploration - UKOOG estimates that 4000 Laterals over a 18 year time frame - need to spend GBP 33 BN in supply chain activities. Now where have I heard all that before?
In total the firm believes five trillion cubic feet of shale gas sits under the north west - termed the ‘Ocean Gateway’ area by IGas.
The firm also believes Greater Manchester firms could benefit from fracking through the industry’s supply chain.
The report acknowledges there may currently be a shortage of people qualified to work in fracking in the north west - but suggests skills taught to enter the industry could be taught at the region’s colleges.
IGas chief operating officer John Blaymires said: “The findings of this report highlight the Ocean Gateway region is sitting on a potential £10bn investment opportunity.
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