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
Statistics Lithuania has calculated that, based on provisional data, FDI in Lithuania in 2009 amounted by 5.3 % more than in 2008. Also, direct investment of Lithuanian enterprises abroad grew by 13.9 % in 2009.
more »
Concerns about foreign fish being sold in Europe and what to do about the future of Europe's fisheries industry were aired in a hearing held by the Fisheries Committee on 8 April.
more »
EU opens public debate on its agricultural policy, the prelude to a major reform in 2013.
more »
The European Commission today launched a €35 million call for eco-innovation projects to be funded under the Competitiveness and Innovation Programme.
more »
Bank SNORAS group company Finasta Holding recruits all funds management and investment companies of the group in the Baltic States.
more »
The European Central Bank (ECB) and the European Commission are jointly holding a high-level conference on financial integration and stability at the ECB’s premises in Frankfurt am Main.
more »
Today, the European Central Bank (ECB) is publishing its fourth Report on Financial Integration in Europe, which notes the return towards integration in the European financial markets.
more »
World Bank Group financial commitments since July 2008, just before the full fury of the financial crisis hit, reached US$ 100 billion today as the institution helped countries respond to and recover from the global downturn.
more »
On March 31, 2010, the Executive Board of the International Monetary Fund concluded the Article IV consultation with Serbia.
more »
The International Monetary Fund and the United Kingdom’s Department for International Development have launched a new project to improve macroeconomic statistics in 23 African countries. DFID will provide US$7.5 million over the next five years to support the project.
more »