New Caspian Sea project to be developed by international consortium

New Caspian Sea project: Kazakhstan’s First Deputy Minister of Energy Uzakbai Karabalin today announced that an international consortium was to start work on a major new oil project between  7 and 15 kilometres below the waters of the Caspian Sea. Known as Eurasia, the new $500m initiative will be looking to extract hydrocarbons fromreserves that recent surveys suggest amount to 67bn tons of oil equivalent and 27bn tons of recoverable oil. 

Source: AKIpress