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
Reform of the banking system was one of the key themes at this year's World Economic Forum in Davos, with bankers coming in for a lot of criticism.
more »
Small firms have been hard hit by the economic crisis, and so must be given incentives and support, including easier access to credit, help with innovation, tax breaks and less red tape, MEPs on Parliament's Special Committee on the Financial, Economic and Social Crisis (CRIS), and experts agreed at a workshop on Monday.
more »
The elections and investiture of Porfirio Lobo as President of Honduras have cleared the way for the EU to restore normal relations with the Central American country and negotiations for signing a bi-regional Association Agreement may soon resume.
more »
The European Commission has approved applications from Lithuania for assistance under the European Globalisation Adjustment Fund (EGF).
more »
The European Commission has decided to refer Italy to the European Court of Justice (ECJ) on the basis of Article 108(2) of the Treaty on the Functioning of the European Union (TFEU) for failing to comply with a Commission decision of July 2008.
more »
The EBRD is helping to strengthen the financial sector in Bosnia-Herzegovina (BiH) with a €50 million credit line to the Deposit Insurance Agency of Bosnia and Herzegovina (DIA), the Bank’s first investment in a deposit insurance entity.
more »
In its first investment in the natural resources sector in Bosnia and Herzegovina, the EBRD is providing a €17 million sovereign loan to finance the gasification of the Central Bosnia Canton.
more »
The EBRD is increasing the availability of financing to private businesses in Armenia with a $5 million credit line and a $3 million trade finance facility to ArmSwissBank for small and medium companies (SMEs).
more »
On January 27 the European Commission assessed the action taken by Lithuania, Malta, Latvia and Hungary in response to recommendations proposed by the Commission and endorsed by the Council in July 2009 in respect to the correction of their respective budget deficits.
more »
EUROSTAT announced that Lithuania’s GDP rose by 6.1 % in the 3rd quarter of 2009 versus the previous quarter.
more »