Kashagan Oil Field (Not About the Bakken)

Update

November 9, 2013: still looks like a bust.

September 16, 2013: still looks like a bust. 

November 17, 2011: one of the world's largest oil field is turning out to be a bust.  Reminds us again, how fortunate we are to have the Bakken. Squabbling partners; oil 2.6 miles underground; poisonous sour oil.

Original Post

The story in the Dickinson Press about North Dakota sending 2,000 head of cattle (by plane) to Kazakhstan piqued my interest, especially with the story about the governor of North Dakota visiting Kazakhstan back in 2006 looking for trade opportunities. [Update here.]

One of the world's largest oil fields ever discovered was the Kashagan field in and around the Caspian Sea and under control of Kazakhstan. The field was discovered in 2000.

Anyone trying to sort out future price of oil needs to take this field into consideration. This story dated August 29, 2010, brings you up to date. For those bullish on the Bakken, this is welcome news. A January 21, 2010, Forbes story reviewed the ten largest oil fields in the world. The Bakken is not listed.