Kashagan: the last Giant we'll ever see

[jmcgowanjm]

the largest(last) oil discovery since Prudhoe Bay in Alaska more than 30 years ago. (Kashagan peaks in ten years).

With Girassol and Sincor, the last of the Giants.

http://www.nytimes.com/2004/02/26/business/worldbusiness/26oil.html?ex=1393131600&en=148daa8b4b0137b3&ei=5007&partner=USERLAND

The field, which the partners estimate holds more oil than Algeria- (so why did BP and Statoil pull out?)

http://quote.bloomberg.com/apps/news?pid=10000087&sid=acqLKQ1A4glU&refer=top_world_news


http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x386702

And part of ShellRD's 20% P/R write off was on Kashagan.
The other's have not written off anything

[hatrack]

1. Isn't Cantarell comparable?

I think the estimates were about 35 bbl . . . then again, it was discovered more than 25 years ago.

[jmcgowanjm]

3. the lights will be going out in Mexico soon, Hatrack

This from Newsletter 35 ASPO.

Mexico’s reserve reporting has been highly suspect

Pemex started a massive nitrogen injection project
on the Cantarell field in 1997 in an effort to prolong its
life, but it is now set to decline steeply.

http://www.asponews.org/HTML/Newsletter35.html

Thanks for your post. I know this is deadly serious
but I feel some sort of Richard Dreyfus/mound of mashed
potatoes/ET fascination with this.

As to "the Last Giant", I'm talking about the last field to be
developed and producing at peak.

The Japanese/Iran deal was about the Azadegan Giant.
http://www.dailystar.com.lb/business/27_02_04_j.asp

But I think it will take longer to get Kashagan out,
thus the last.

[hatrack]

4. Interesting - I didn't know that EOR at Cantarell had been such a flop

Oh, by the way, did you see the DOE report that US oil consumption rose 3.3% in December over 2002? Vroom vroom!!

[jmcgowanjm]

2. Edit: substitute BG Group for StatOil

http://www.rigzone.com/news/article.asp?a_id=5874

BG has now agreed to sell its remaining interest in the
PSA to Sinopec International Petroleum Exploration
and Production Corp. (a wholly owned subsidiary of
China Petrochemical Corporation ("Sinopec Group.")
of China.

[jmcgowanjm]

5. Cheny lobbied to contain criminal bribery probe of Kazakh's

The move ends months of delays, which have held up
the development of what is estimated to be the world's
largest untapped deposit. The Kashagan field was
discovered in 2000 and is estimated to have 38 billion
barrels of oil, making it one of the largest discoveries in
30 years.

Kazakhstan's plans to export 3 million barrels a day of
crude by 2015 heavily rely on Kashagan. Such a volume
is more than Russia exports today and would make
Kazakhstan one of the world's top exporters.

http://www.atimes.com/atimes/Central_Asia/FB27Ag01.html

Rummy was in Kazakhstan this week. I guess
trying to beat off the Russians and Chinese.