In Kazakhstan OCIOC to start final drilling works on Caspian sea

/IRBIS, March 28, 00/ - REUTERS informs, with the reference to general manager of the consortium Keat Dallard, that International oil consortium OCIOC, which is developing Kazakhstani part of Caspian shelf, has began final stage in exploration drilling works at Eastern Kashagan site. We are on the last stage of the exploration, said general manager. He added results would be ready after all the analysis only in mid 2000. It is said the consortium has already drilled 4,000 meters on the shelf and another 500 meters are expected later. He said the second well could be drilled, though its location and the size of the project would depend on the results of the first well. The consortium did not give figures on possible amount of reserves, however, seismic analyses showed up to 4 bln tons of possible reserves of hydrocarbons. General manager said Kashagan oil could resemble to "heavy" oil of Tengiz site which contains more sulfur. But consortium participants are not disturbed by this. It might get more expensive though, however we do not expect anything that can not be resolved by using the technology, said Dallard. He said investments in the development of Eastern Kashagan has reached $600 mln from 1993 till now. The consortium includes the American Phillips Petroleum, Japanese Inpex, BG Pie, Agip, BP Amoco, Statoil, Mobil, Royal Dutch Shell, TotalFina. The consortium started exploration drilling works at Kashagan in August 1999.