Skip to comments.Iran claims new Caspian Sea oil find (10 Billion Barrels)
Posted on 05/25/2012 8:36:55 AM PDT by Red Badger
Claims are coming from Iran of the discovery of new Caspian Sea oil reserves. If confirmed, it would be the first discovery of new reserves in the area for over 100 years. Using the Amir Kabir semi-submersible rig, the Khazar Exploration and Production Company has estimated the size of the find at around 10 billion barrels and according to Irans oil ministry, the oil is high quality.
The offshore reserves are described as deepwater, but an exact depth has not been given. According to Khazar, the find is completely within Iranian territorial waters. The Caspian Sea is also bordered by Russia, Kazakhstan, Azerbaijan and Turkmenistan, as well as by Iran in the south. Iran is OPECs second biggest oil producer, after Saudi Arabia. The discovery follows an earlier find of large natural gas reserves by the same team late last year.
Naturally, I take anything the Iranians say with a big dose of salt, but if true, that’s a pretty major oil discovery. Of course, time will tell.
Meanwhile, America happily pours billion$ down the rathole of failed “green” energy.
Kinda Like Cuba dry well
It’s in a known oil producing area that has been idle for a long time until technology could find it............
OK. Well then, I must admit, quite a coup for the Iranians. I’m sure the Chinese will be showing up in Tehran with suitcases full of cash in the next month or so.
Why? they now have their own to drill........
You know, whenever I read stuff like this, it always goes through my head, “How come I never find that 10 billion barrels of oil in my backyard? Or how come I’m not the person who finds the Lidl shopping bag with 45,000 in cash?” - that actually happened in Germany a couple of years ago. The most I’ve ever found was a $100 bill, but that was over 20 years ago.
I guess it’s like that old adage; some folks just got all the luck.
I have a friend in Uganda who told me that there’s been an oil find there; that’s one I hadn’t heard of. She also implied that they could find all the oil on the planet under Uganda, and it wouldn’t amount to a fart in a wind owing to corruption. The corruption part I’d certainly believe, given their past governments.
The Ugandan oil field is the same as the Kenyan one, IIRC........it spans the borders...............
Well, if that’s the case, then they have no need for all those ‘nuclear reactors’ to generate electricity, do they?
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