Stock market quotes, forex, financial news, forex tools –

The largest oil field has been found in Alaska

 Breaking News

The largest oil field has been found in Alaska

The largest oil field has been found in Alaska
October 05
16:00 2016

Caelus Energy, a little-known energy company, said that they had found a rich deposit of black gold in the inaccessible region of Alaska. The Wall Street Journal wrote about this. The company evaluates the reserves of the new field from 1.8 billion to 2.4 billion barrels. This is equivalent to 245,5-327,3 million tons. For example, the volume of stocks of the newly opened East- Messoyakhskoye field, the development of which is being carried out by joint efforts of “Rosneft” and “Gazprom”, is equal to 340 million tons.

The found deposit is located on the shelf of Smith Sound, 480 km to the north of the Arctic Circle.

The chief executive of Caelus Energy James Musselman, said: “It will not be easy, but we have already had similar projects.” Caelus Energy is going to start the construction of a 200-kilometer pipeline for $ 800 million, which is planned to put along the seabed and connect the extraction point with the transport system.

According to the WST, the leadership of Alaska will, probably, support the development of the deposit, as the semi-island has experienced a sharp drop in oil revenues so far.

“If Alaska does not find a way to stop the decline in oil production, which threatens to freeze Trans Alaska Pipeline System, it can face a catastrophe of its oil industry and the entire economy”, – writes WST.

Nevertheless, it is expected that the environmentalists will strongly oppose the construction of a new pipeline, which can slow down the development of the deposit.

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment