Oil giant ExxonMobil reported Monday it had made two new oil discoveries in the northern Caspian Sea bordering Russia and Kazakhstan
Published:
29 November 2003 y., Saturday
The Texas company said the discoveries are the third and fourth successes in their 1.4-million acre North Caspian Production Sharing Agreement (PSA) area and will be studied further to determine if they are commercially viable.
The oil industry estimates that the North Caspian PSA, a partnership of the two nations and several oil companies, holds more than 9 billion barrels of oil.
The discoveries, announced Monday, were made on artificial islands in the Kashagan Southwest and Aktote prospects. Aktote struck oil at the 14,000-foot depth and measured a flow at 1,550 barrels per day. The Kashagan discovery occured at 19,275 feet and flowed at 2,100 bpd, although through a wider diameter flow line.
The Caspian is considered one of the great new oil-producing areas but development has been slowed by a lack of pipelines.
Šaltinis:
washtimes.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
European Commission Vice-President Siim Kallas, responsible for transport, today presented to the College a preliminary assessment of the economic consequences for the air transport industry of the volcanic ash crisis.
more »
Boosting economic recovery, investing in Europe's youth and in tomorrow's infrastructures are the priorities of the 2011 draft budget adopted by the Commission on 27 April 2010.
more »
European Competition Commissioner Joaquín Almunia welcomes proposed commitments by Visa Europe to significantly cut its multilateral interchange fees (MIFs) for debit card payments.
more »
Because of the Icelandic volcano, flower growers in Colombia couldn't get their stems to markets in Europe.
more »
The Second Vice President of the Spanish government and Minister of Economy and Finance, Elena Salgado, on Sunday played down the importance of apparent fissures within the EU concerning the Greek financial crisis, expressing her confidence that all countries would support the aid package for this country, which will be accompanied by a tough budget-tightening plan.
more »
Commission launches an information campaign on the CE conformity mark - designed to ease the free movement of goods around Europe and protect consumers.
more »
If Europe's airports ever open again the introduction of new security measures like body scanners will be expensive.
more »
After Eurozone Finance Ministers agreed measures to address Greece’s financial woes last Sunday, MEPs quizzed leading economic figures, including the chairman of Goldman Sachs - former financial advisors to the Greek government - on how to strengthen EU economic governance and improve reporting of national statistics.
more »
The European Tourism Stakeholders Conference, being held in Madrid today and tomorrow, will explore ways and means to strengthen the visibility of tourism at a European level and to verify how the actions to promote a competitive EU tourism industry.
more »
The European Bank for Reconstruction and Development (EBRD), World Bank Group member IFC, and The Netherlands Development Finance Company (FMO) have joined up with the Asia Debt Management Hong Kong (ADM Capital) to establish a regional fund to invest in midsize companies facing financing difficulties as a result of the financial crisis.
more »