Caspian drilling suspended

[DuctapeFatwa]

Drilling operations have been halted in the Caspian Sea and only seismological studies are underway in the resource-rich region in cooperation with foreign parties including Azerbaijan Republic, Royal/Dutch Shell and Lasmo of Italy, ISNA reported.

The seismological project is expected to cover 15,220 square kilometers in Iran's Caspian sector.

ISNA further reported that the production of every barrel of oil in the Caspian Sea would cost between $10 and $15, which is much higher than the amount spent on crude production in southern Iran where the average cost is $2.6 per barrel.

Nonetheless, it is expected that given the possible rise in global demand for fossil fuel in the future, Iran must expedite its oil-related activities in the Caspian.

http://www.iranmania.com/News/ArticleView/Default.asp?NewsCode=21935&NewsKind=Business%20%26%20Economy

[sistersofmercy]

1. Hi DF! Well that's an interesting development in the oil war.

:hi:

[DuctapeFatwa]

2. sometimes the story is between the lines :) (nt)