Kashagan is the Largest Oil field Discovered in 40 Years - 09/12/05 11:21 PM
A consortium consisting of Royal Dutch/Shell, Total, Inpex, Exxon Mobil and ConocoPhillips, are to invest US $10 billion in the first stage of prospecting of the Kashagan oil field in Kazakhstan. The Kashagan field (discovered in 2000)is the largest oil deposit discovered over the past 40 years.
In its first stage its expected to yield 450,000 bbls per day at a cost of US$3 per barrel. Later it could provide up to 1.2MMbbls per day. This volume will make it the world's second largest oilfield after Ghaver in Saudi Arabia.
It will be coming on line later this year, 2005. Later than expected due to the field being under the north end of the Caspian Sea, which freezes over for 4-5 months in the year.
***It seems that it will come on line just in time to make up for our present oil difficulties. New friends and country alliances will be forged by the energy greedy west. Additional cracking facilities will be built, enabling everyone to settle down and breath a sigh of relief for the next 50 years, irrespective of sea rises, carbon dioxide, global warming and rape of our Earth.
In its first stage its expected to yield 450,000 bbls per day at a cost of US$3 per barrel. Later it could provide up to 1.2MMbbls per day. This volume will make it the world's second largest oilfield after Ghaver in Saudi Arabia.
It will be coming on line later this year, 2005. Later than expected due to the field being under the north end of the Caspian Sea, which freezes over for 4-5 months in the year.
***It seems that it will come on line just in time to make up for our present oil difficulties. New friends and country alliances will be forged by the energy greedy west. Additional cracking facilities will be built, enabling everyone to settle down and breath a sigh of relief for the next 50 years, irrespective of sea rises, carbon dioxide, global warming and rape of our Earth.