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Putin found no oil in Kazakhstan part of the Caspian shelf

13 may 2011, 11:49
0
Vladimir Putin. RIA Novosti©
Vladimir Putin. RIA Novosti©
Vladimir Putin commented on the development of the field in Central structure on the Caspian Sea shelf. Russian Prime-Minister said that no oil was found on the Kazakhstan part of the field, but Russia will be jointly developing its part with Kazakhstan.

“We are planning to develop Central field together with our Kazakh colleagues. When we were defining the borders on the Caspian, they (Kazakhstan) turned out to have no oil, while our part of the field had some,” RIA Novosti reports citing Putin's speech at the inter-regional conference of the United Russia party in Volgograd.

“It is so happened, inadvertently. But we agreed with them to develop this field 50-50 and we will fulfill our obligations and work with them,” he said.

Central is an oil, gas and gas condensate field at the border between Russia and Kazakhstan. It is located in the Northern part of the Caspian sea 150 km from Makhachkala. It was discovered in May 2008. The field is operated by a joint venture CenterCaspneftegas (Lukoil – 25%, Gazprom – 25%, Kazmunaigas – 50%).

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