1 Massive Oil Field Getting Ready to Flow

No find in the past 30 years is bigger than the Kashagan field in the Caspian Sea. But after years of delays, oil will finally begin flowing from this potentially 90 billion barrel behemoth. Outside of the Middle East, it is the largest oil find the world has known, and it could prove to be a long-term play that could produce for years. 

So, what took it so long? With a complex geological strucutre, remote location, and harsh weather conditions, making the Kashagan field flow has been a daunting challenge that is expected to cost a total of almost $190 billion. Perhaps the U.S. will not be directly affected by the oil coming from the region, but its presence on the global energy space will certainly be felt. Tune into the video below as Fool contributor Tyler Crowe looks at some of the companies involved in this massive oil find and who stands to benefit. 

It may be years before the Kashagan field generates a return for the companies invested in it, but investors shouldn't wait that long to get their own financial future in order. The Motley Fool has compiled a special free report outlining how to build a solid foundation for your portfolio right now. It's called "Secure Your Future With 9 Rock-Solid Dividend Stocks." You can access your copy today at no cost! Just click here.

 


Read/Post Comments (3) | Recommend This Article (3)

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  • Report this Comment On July 05, 2013, at 10:35 AM, MiserblOF wrote:

    Great news! China and India will have more fuel to join the USA in the profligate burning of fossil fuels and bring on further destruction of the planet.

  • Report this Comment On July 05, 2013, at 2:03 PM, amvet wrote:

    The hope is to produce 75,000 bpd in 2013 and 180,000 in 2014. If successful that will add 2/10 of one percent to world production in 2014.

    You forgot to mention the 19% H2S, when coupled with the very high pressure, means that producing the field is DANGEROUS: There is a rumor that already one village has been depopulated and other villages have been moved to allow production to proceed..

  • Report this Comment On July 06, 2013, at 5:06 PM, handsrus wrote:

    What some people fail to understand is all John Deere tractors have to have an unbelievable amount of DIESEL to produce the tremendous volumes of food per acre required to feed the billions of people in the world.ie: corn , wheat ,etc.

    All of our high N2 fertilizers are also made from fossil fuel.When fuel slows, food slows , people get hungry and hungry people start wars.There will be no corn for ethanol, no rubber for tires, no plastics for DVDs

    We can taper off oil, but world shortages will sooner or later cause world fammon. We can subsitute alternate energys but the science is way behind to be able to keep up supplies for the mouths currently on the planet.Lets get real! Sometime in the future, solar power will happen but lets transition slowly while we still have enough oil for wind turbine blades and solar panels. I have worked in oil fields for 36 years and although I have seen many spills ,I've seen the oil industry come a long way to be more enviromentally friendly .It will always be at a price. Yours.

    It takes more oil now to allow us to transition to less oil later. I always thought that was obvious but I guess it isn't. With more oil produced overseas, less of our oil will be sent away. What a shocking thought.

    "INDEPENANCE" an American way of life.We need to be a lot closer to that now than we are. We need more oil and use less Sadly ,It's our country using most of the worlds oil supply but it also alows us to be the greatest country in the world.We can take advantage of our resourses and safely develope the shale oil finds.We can convert engines and turbines from diesel and gasoline to natural gas(for which we already have an abundent supply),We can build stratigic pipelines to eliminate costly and risky hualing of crude oil .We can be energy indepenant if we stragicly need to but only if we help the oil industry and stop looking at them as the enemy or the highest taxable prospect in the country. Remember ,they are"us". I thank them. They certainly have helped me for the last 60 years and come to think of it, admit it or not, your life wouldn't be as prosperous either.

    So come on world. Lets get some more oil.

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