Kashagan – a giant offshore oil field in the Caspian Sea – The project is better known (in Shell circles) as “Cash all gone”
7 December 2012
By Rayhan Demytrie BBC News, Kashagan oil field, Kazakhstan
t has cost $46bn (£28.8bn) to develop Kazakhstan’s most ambitious project, Kashagan – a giant offshore oil field in the Caspian Sea, the world’s biggest oil find in the past 40 years.
Kashagan holds about 13 billion barrels of recoverable oil. Simply put, it is enough to power the world for up to five months.
Once production starts next year, the majority of Kashagan’s oil will reach markets in Europe and China, making it an important non-OPEC source of energy.