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Watching The World: Boosts to Russia's ESPO line

11/01/2010
Eric WatkinsOil Diplomacy EditorRussia's state-owned East Siberia-Pacific Ocean oil pipeline received two boosts last week: oil discoveries in Eastern Siberia and a pirate attack on a tanker off Kenya's coast.Japan Oil, Gas & Metals National Corp. (Jogmec) confirmed rich reserves of oil and natural gas in three East Siberian fields, namely Severo-Mogdinsky, Zapadno-Yaraktinsky, and Bolshetirsky.Jogmec and local partner Irkutsk Oil Co. have confirmed the presence of a high-quality crude that is light and low in sulfur in Severo-Mogdinsky field.The firms estimate the field will hold 50 million tons of oil, or about 370 million bbl.Jogmec and Irkutsk Oil also have confirmed oil and natur...
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