Tuesday, June 1, 2010
European Crude Oil Supply Competition for Russia
Norway’s oil company Det norske has recently found one, The Norway Post wrote. The deposit has from seven to twelve million barrels. Nothing has been reported about the profitability of extraction in the new deposit. The North Sea still remains the territory of good perspectives, not to mention the Arctic region, which has not been explored yet. The largest oil wells on the British continental shelf in the Northern Sea are Leman-Bank, Brent, Markham and Buzzard. The proven reserves are evaluated at 3481 million tons. As for continental fields, the largest one is Wytch Farm – about 60 million tons of oil, Neftegaz.ru website said.
Britain ’s long time adversary in the field of oil mining, France, is no competition. However, France was the first nation to have applied the method of oil mining at Pechelbronn. France was also the first to start the industrial extraction of this fuel. Nowadays, France mines only 20,000 barrels of oil daily. This number pales in comparison with the nation’s needs of nearly 2 million barrels a day. The explored oil reserves in France are not that large either, 122 million tons.....Read the entire article.
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