IJIRST (International Journal for Innovative Research in Science & Technology)ISSN (online) : 2349-6010

 International Journal for Innovative Research in Science & Technology

Shale Oil and Gas as an Alternative Source of Energy


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International Journal for Innovative Research in Science & Technology
Volume 4 Issue - 11
Year of Publication : 2018
Authors : Ashutosh Kumar ; Dr. K. Saravanan; Anand Lidwin Peter. A; Divakar. G; Amal Johny

BibTeX:

@article{IJIRSTV4I11025,
     title={Shale Oil and Gas as an Alternative Source of Energy},
     author={Ashutosh Kumar, Dr. K. Saravanan, Anand Lidwin Peter. A, Divakar. G and Amal Johny},
     journal={International Journal for Innovative Research in Science & Technology},
     volume={4},
     number={11},
     pages={73--83},
     year={},
     url={http://www.ijirst.org/articles/IJIRSTV4I11025.pdf},
     publisher={IJIRST (International Journal for Innovative Research in Science & Technology)},
}



Abstract:

This paper work is based on the study of shale oil and gas as an alternative source of energy as Shale oil and gas is rapidly emerging as a significant and relatively low cost new unconventional resource in the world. There is potential for shale oil and gas production to spread globally over the next couple of decades. If it does, it would revolutionize global energy markets, providing greater long term energy security at lower cost for many countries. Our analysis suggests that global shale oil and gas production has the potential to reach up to 14 million barrels of oil per day by 2035; this amounts to 12% of the world’s total oil supply. We estimate that this increase could reduce oil prices in 2035 by around 25%-40% relative to the current baseline EIA projection of $133/barrel in 2035, which assumes low levels of shale oil & gas production. In turn, we estimate this could increase the level of global GDP in 2035 by around 2.3%- 3.7%. However, the benefits of such oil price reductions will vary significantly by country. Large net oil importers such as India and Japan might see their GDP boosted by around 4%-7% by 2035, while the US, China, the Euro zone and the UK might gain by 2%-5% of GDP. The potential emergence of shale oil presents major strategic opportunities and challenges for the oil and gas industry and for governments worldwide. This paper have a deep study about the world shale gas and shale oil resource assessment, shale oil and shale gas resources in India which have the enough amount of shale oil & gas to full fill the demand of the country and also to reduce the bulk imports which will be help in improving the economy of the country and the GDP rate, if India explore this basin the scope of employment and opportunities will increase.


Keywords:

Shale oil, Shale gas, Indian Basins, Resource assessment, World Shale


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