28326
Moscow-Astana Caspian Project
Energy

Moscow-Astana Caspian Project

Russian President Vladimir Putin and his Kazakh counterpart Nursultan Nazarbayev have signed an agreement to jointly develop the northern Caspian Sea oil deposits. "We [Russia and Kazakhstan] have big plans on joint oil production in the Caspian Sea," said Putin after the meeting, adding that Russia is a transit for Kazakhstan's oil to foreign markets. Presidential aide Yuri Ushakov said the document regulated oil production at the Tsentralnaya site in the North Caspian Sea. Putin said the economies of both Russia and Kazakhstan are experiencing difficult times, but trade between the two countries is growing in ruble terms. According to Putin, more than 6,000 Russian companies are working in Kazakhstan. The Caspian region holds an estimated 48 billion barrels of oil and more than 8 trillion cubic meters of natural gas in proven and probable reserves. The announcement by Russia and Kazakhstan comes as Iran has yet to extract crude from its Caspian waters, despite exponential growth in terms of extraction from southern oil and gas fields.

 

Short URL : https://goo.gl/ymQPPj
  1. https://goo.gl/qufrxQ
  • https://goo.gl/PTJXPj
  • https://goo.gl/eQWFvS
  • https://goo.gl/bK4tch
  • https://goo.gl/uLY3Pi

You can also read ...

Japan to Toe US Line, Stop Iranian Oil Imports
Japanese oil distributors are preparing to stop importing...
Canada Ships Biggest Oil Consignment to China
A tanker loaded with around 514,000 barrels of oil has set...
Saudis Reap Benefit From US-China Trade War
Saudi Aramco is winning thanks to US President Donald Trump’s...
Oil Prices Set to Drop Over Excess Supply
Crude prices rose on Friday, but were still set for a weekly...
South Pars has 24 standard phases, most of which are fully operational.
The giant South Pars Gas Field in the Persian Gulf is slated...
7 Power Projects Take Off
Energy Minister Reza Ardakanian on Thursday inaugurated seven...
Oman to Finalize Gas Supply Contract by August
Tehran and Muscat are planning to sign a final agreement on...

Trending

Googleplus