2. Kashagan Field
Place: Kazakhstan
Total Expense: +/- $166 billion
Year Completed: 2040s
With about 38 billion barrels of crude oil in place and 13 billion barrels potentially recoverable, the Kashagan Field, which was discovered in the northern part of the Caspian Sea in 2000, is regarded as one of the largest discoveries of the last thirty years. The People’s Republic of China’s President Xi paid $5 billion for an 8.4% share in the fields in 2013. Given that it is anticipated that the Kashagan Oil Fields won’t run out until the 2040s, the transaction should be quite beneficial for Xi.
Shutterstock, V. Baturin, and Kashagan Field
Because of the low depth of the waters near Kashagan, it is difficult to access the deposits located over 5,000 meters below the surface. Additionally, workers are required to carry emergency breathing equipment in case of an emergency because the oil contains a high percentage of hydrogen sulfide.
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