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
EBRD to pay 4.6 billion roubles for 11.75 percent stake.
more »
On 24 November in London a letter of intent will be signed between Alytus Municipality and the Spanish aluminium company “Sopena group” regarding investments of the “Sopena group” in Alytus.
more »
Tourism opportunities in Dzūkija Region of Lithuania and other issues of incoming tourism promotion were the main topics of the meeting of the Mixed Intergovernmental Commission on Trade and Economic Cooperation between the People’s Republic of China and the Republic of Lithuania.
more »
On 22-23 November in Kiyv, foreign ministers of Lithuania, Ukraine and Belarus discuss trilateral cooperation and participation of Belarus and Ukraine in the Eastern Partnership of the European Union.
more »
The Kozloduy International Decommissioning Support Fund is supporting an innovative programme to boost energy savings and efficiency of public buildings in Bulgaria with a €5 million grant.
more »
Bank DnB NORD’s Economic Research Group predicts that out of the six Baltic Rim countries, moderate economic growth will be seen in Poland, Finland and, possibly Estonia in 2010, while Denmark, Lithuania and Latvia will need more time to climb out of recession.
more »
In a meeting in Brussels of the European Bank Coordination Initiative held on 19 November 2009, the parent banks of the six largest foreign banks active in Hungary reaffirmed their commitments made in May 2009 to support their subsidiaries.
more »
On 17 November 2009, the Board of AB Bank SNORAS decided to establish the bank’s representative office in London.
more »
The European Commission has approved, under EC Treaty state aid rules, two capital injections in favour of 'The Mortgage and Land Bank of Latvia' (LHZB).
more »
The government of G hana will tomorrow sign an historic agreement with the EU aimed at ensuring that only legally harvested timber from the West African country is exported to the EU market.
more »