Russian and Kazakhstani Presidents Vladimir Putin and Nursultan Nazarbayev have launched the Eurasia project today, planning to drill the deepest borehole in the world. Eurasia project coordinator Baltabek Kaudykov noted plans for creation of a consortium. Realization will take 5 years and $500 million, starting in 2015, Interfax reports.
LUKOIL, Rosneft and Western partners are interested in the project. Kaudykov said that there were negotiations with Shell, Chevron and other companies.
Hydrocarbons lie 7-9km deep in the Caspian Depression, where about 80% of the country’s hydrocarbon resources are. The borehole will be 15km deep. 30% of the Caspian Depression is located in Russia.
