• Спецпроекты
  • Weather forecast
    • Exchange Rates
    • 425.63
    • 515.99
    • 5.92
  • SEND YOUR NEWS TO US WhatsApp +7 (777) 001 44 99
  1. Main
  2. Learn
  3. Industry
  4. Industry, Infrastructure

North Caspian Sea may hold large oil reserves: Vice Minister of Energy of Kazakhstan 02 октября 2014, 21:33

Northern part of the Caspian Sea may contain significant oil reserves.
  • Vkontakte
  • Facebook
  • Twitter
  • Одноклассники
  • Telegram
Новостью поделились: человек

Photo © tengrinews Photo © tengrinews

Northern part of the Caspian Sea may contain significant oil reserves, Tengrinews reports citing the Vice Minister of Energy of Kazakhstan Magzum Mirzagaliyev.

According to Mirzagaliyev, a lot of work was done to launch the Kazakh-Russian Eurasia project that will involve drilling of test wells. “Computer modeling of 15 sedimentary basins was made. Results of the computer modeling and our estimations indicate that the northern part of the Caspian Sea (shore) may contain significant oil reserves,” Mirzagaliyev said.

The Eurasia project was presented to President of Kazakhstan Nursultan Nazarbayev and President of Russia Vladimir Putin during this week's exhibition in Atyrau.

“At this stage the project is only a concept, but it has attracted attention of international companies as well as of Russian companies. It is necessary to conduct a thorough research and drill a 15 thousand meter deep appraisal well to confirm the computer modeling results,” the Vice Minister stated.

The initial cost of the exploration project, according to Mirzagaliyev, amounts to $500 million.

Earlier, President Nazarbayev said that Kazakhstan should not be concerned about “raw material” dependence, but should rather view abundance of the resources as a blessing. Kazakhstan and Russia, according to Nazarbayev, have enough oil and coal to continue developing traditional energy and to export raw materials abroad.

Reporting by Azhar Ashyrova, writing by Gyuzel Kamalova, editing by Tatyana Kuzmina


Nobel prizewinner proposes a new city in KZ
New abnormal snowfalls expected in Kazakhstan
Huge glacier retreat triggered in 1940s
Hyperloop construction begins in Las Vegas
"Moonlight" to top Spirit Awards nominations
Oil prices fall due to investors uncertainty
New dwarf galaxy discovered around Milky Way
Kanat Islam becomes a top ten WBO boxer
World oil prices continue to rise
Kazakhstan expects warming - Kazhydromet
Merkel to seek fourth term as chancellor
Sale of Tintin drawings set to break records
US, EU stocks fall as markets focus on dollar
Pacific leaders urged to defend free trade
EU warns eight nations on budget deficit
Universiade-2017: Athletic Village is ready
Bob Dylan can't make Nobel ceremony
Messi will never leave Barca - club president
Google, Facebook take aim at 'fake' news
Aerosmith announces Europe 'farewell' tour
Putin, Trump to normalise US-Russia ties
At least 10 hurt in southern Turkey blast
6.2 quake hits western Japan

Firebase Cloud Messaging