Investors Wants Woodside to Venture Into Shale Gas Exploration

Some shareholder of Woodside Petroleum have called upon the company to venture into shale gas exploration, says Australian Associated Press (AAP).

Woodside’s strength lies in deepwater and sub-sea capabilities and developing offshore liquefied natural gas (LNG) projects in Western Australia.

AAP adds that some believe the company should look to unconventional areas, such as the onshore Canning Basin in Western Australia.

Company’s Chief executive Peter Coleman says any move to onshore shale would likely involve dedicated unconventional gas players, reports AAP.

"We haven't ruled shale gas out. We've always said we'll look at all sources of hydrocarbon, and what we need to do is decide whether we've got the capability to go after that. “Coleman told the company's recent annual general meeting.

Anyone who ignores the shale gas revolution that's happening globally does it at their own peril, he said at the meeting.

He also acknowledged it could take years before Woodside established itself as a shale gas player, adds AAP.