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oil and gas production, but its far from perfect. In fact, the industry typically recovers only 5% to 10% of the oil in place from shale reservoirs. The Problem: Low Recovery Rates in Shale Fracking has revolutionized U.S. That leaves a tremendous amount of hydrocarbons untapped. shale for years to come.
The field is operated by North Oil Company, a joint venture between QatarEnergy (70%) and TotalEnergies (30%). The company says its strong relationship with NOC, going back to 2017, was a key factor in retaining the contract, along with its record of past performance, knowledge of NOCs assets and availability of resource within the country.
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