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Kashagan really was discovered in 2000. The North Caspian had never been explored by the Soviets. It was known as a potentially good place to do so, but that's not quite the same thing.

Tupi is in 2,000m waters, not 6,000, but it's still a lot.

It's not that light for oil - it's just a lot lighter than the (very heavy) crude Brazil produces for now.

and it's not clear at all that the announced reserves are there - they are interpolating between two far away wells (the second one which cost USD 250 Million, btw).

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Wed Nov 21st, 2007 at 09:12:03 AM EST
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