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Russia Touts Bazhenov Oil Shale: 80 Times Bigger than the Bakken
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Russian leader Vladimir Putin hopes to spur shale development by vowing to lessen the Kremlin's monetary gains from natural resources, according to numerous reports.
Putin hopes to draw in operators to develop Siberia's Bazhenov Shale formation, which is likely the largest oil shale in the world. Russian officials note that the Bazhenov could hold up to 3.5 billion barrels of recoverable resources, which could prove attractive to industry majors who haven't yet expressed interest in the play.
Many are comparing the Bazhenov oil shale to North Dakota's Bakken Shale play, which has proved to be an immensely popular target for both domestic and international operators. However, the ultimate unconventional potential of the Bazhenov remains unclear. Numerous reports have suggested that the…
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