Do you remember that giant Kashagan oil project in the Caspian Sea that I've mentioned several times before? Just how expensive is it?
The Motley Fool is reporting. Some data points:
- largest oil discovery in 30 years (with some saying the Bakken is a trillion-bbl reservoir, that may be a factoid)
- supposedly has just begin producing this week after seven years of delays
- current bill: $48 billion; no cash flow
- how much oil: 375,000 bopd divided among seven companies
- Bakken: 875,000 bopd; still early in the development phase
Back in 2011, one headline:
Kashagan is turning out to be a bust.
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