BP chief hails American breakthrough in gas supplies from shale rocks

Publication Type:

Web Article

Source:

guardian.co.uk (2010)

URL:

http://www.guardian.co.uk/business/2010/jan/28/bp-tony-hayward-gas-shale-rocks/print

Keywords:

press

Notes:

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BP's Tony Hayward tells World Economic Forum of 'game changer' technique to serve world's energy needs.

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Tony Hayward, chief executive of BP at a session at the World Economic Forum in Davos wher he spoke of gas extraction from shale. Photograph: Arnd Wiegmann/Reuters

Excitement in the industry over "unconventional" gas supplies has led to a wave of investment in America which Tony Hayward, BP's chief executive, believes could eventually spread around the world.

BP inherited a major stake in shale operations when it took over Amoco 12 years ago, but has added to that by spending $1.75bn buying shale interests from rival Chesapeake Energy in the summer of 2008. Last November BP showed its determination to extend the use of the techniques when it signed a production-sharing agreement with the government of Indonesia to exploit new reserves in Kalimantan.

See: BP Deepwater Horizon Committee Hears From Oil Industry Executives

See: National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling

See: Before the Big Spill

See: BP - For BP, a History of Spills and Safety Lapses