Six-country international shale priority list for energy security as Middle East conflict drives supply diversification in Oil & Companies News 27/04/2026 Middle East conflict has elevated strategic energy security priorities as countries seek supply diversification, international shale exploration can play a key role in meeting those goals, according to new research from Wood Mackenzie, titled “A hydrocarbon copy: the upstream industry’s return to international shale exploration”. Six countries are advancing unconventional resource development to help address energy security objectives. Algeria leads for European supply diversification, while the UAE, Mexico, Australia, Türkiye, and Indonesia pursue domestic energy strategies through international partnerships and technology deployment. Algeria’s proximity to European market Algeria hosts vast reserves, and the Lower Silurian shale offers piped export potential. ExxonMobil and Chevron have exploration partnerships, though oilfield service bottlenecks require resolution. Five additional countries target energy independence: • UAE– Abu Dhabi National Oil Company is moving toward final investment decisions for unconventional gas supporting a 2030 self-sufficiency target. Drilling could exceed 300 wells per year. • Mexico– Pemex set 2030 shale gas and tight oil targets amid US trade tensions. • Australia–The Northern Territory Beetaloo gas project targets LNG backfill and east-coast market supply. • Türkiye– Continental is working in the Diyarbakır and Thrace basins and advancing exploration at an accelerated pace compared to other companies’ earlier efforts. • Indonesia– Regulators seek US participation in Sumatra basin tight oil. Targets include lacustrine sediments, once thought too challenging but proven viable by the Uinta basin in the US. From Permian concentration to global re-engagement A mix of subsurface and regulatory challenges slowed international shale progress in the 2010s, but the evolving Permian opportunity proved decisive. Companies ended global shale exploration and pivoted to West Texas for lower-risk, lower-cost growth. Eight companies that once led global shale exploration—ExxonMobil, Chevron, Shell, BP, ConocoPhillips, Marathon, EOG, and APA—spent $230 billion acquiring and developing Permian positions between 2012 and 2025. Breakevens were driven down by more efficient operations and dramatically improved well recoveries, positioning the Permian lower on the global cost curve US Lower 48 growth is slowing now though, and companies are looking elsewhere to leverage their unconventional skillsets. A high-graded global search Global shale exploration last decade also suffered from a lack of focus. Companies are now evaluating approximately 20 high-graded plays, compared with over 100 assessed last decade. “Explorers know the countries to avoid,” said Robert Clarke, Vice President, Upstream Research at Wood Mackenzie. “Bans on hydraulic fracturing or unworkable fiscal terms will make certain projects impossible. Companies also have a better understanding of supply-chain risks, such as red tape that restricts the import of critical drilling and completion equipment.” Two US shale specialists have made concrete moves. Continental Resources entered Argentina’s Vaca Muerta through multiple deals and formed an unconventional joint venture with Türkiye’s state oil company. EOG Resources made unconventional entries into Bahrain and the UAE. Some plays being studied are assets