OIL Shale

UNCONVENTIONAL RESOURCES OF ENERGY

 

– Egypt is ranked 14 with total in-place shale oil reserves of about
5.700 million barrels.

– The oil shale belt covers almost the entire middle latitudes of Egypt with maximum width at the western side of the Nile River.

– The explored areas do not represent more than 10% of the total area of the vast oil shale belt of Egypt.

In Quseir / Safaga district the resources show that
– There are selected and evaluated oil shale beds with reserves 23 billion tons of oil shale, 700 million tons of oil (4.55 billion barrels) and +5,100,000 million kWh of electricity.

– All of selected and considered layers are feasible. Net value of reserve and profitability of development were assessed on the base of assumptions for oil price 50$ per barrel and electricity price 40$ per MWh.

– Production costs of oil 19-35$ per barrel and 16-28$ per MWh allow to expect good feasibility of the projects although maximum mining costs were applied.

Currently, a Memorandum Of Understanding has been signed by and between South Valley Egyptian Petroleum Holding Company, the Egyptian Electricity Holding Company and ARTE Cooperation, the American company which has the techniques needed for utilizing oil shale to generate electricity in order to conduct the project’s feasibility study and identify the industrial and environmental
aspects.