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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Big Dog who wrote (25984)7/19/1998 10:05:00 PM
From: Jamey  Read Replies (1) of 95453
 
Big Doggie, I read an article in Parade Magazine today that had a picture of long lines of cars backed up at filling stations with the statement "Will we run out of gas?"
They showed a large map of the Caspian Sea area in Kazakhstan, (central Asia) that has oil and gas reserves as large as the supply of the entire Middle East oil properties.
They stated that tens of billions of dollars were at stake. Clinton and Bill Richardson (Energy Secretary) visited the area last year and Clinton sent the 82 Airborn Division to drop down in Kazakhstan in a unprecedented "showing the flag" excercise. Supposedly, several large oil companies have a stake in this venture, including Parker Drilling(PKD) Parker and their subsidiary, Mallard Drilling will be supplying the Caspian's seas first Artic class drilling barge. PKD formed a project with a Japanese National Oil Corp. drilling program. Parker formed a joint venture with Kazakh owned joint stock company, Aralnedra, to undertake the project. Along the northeast coast of the Caspian sea Parker was awarded a contract to drill a series of wells for Oryx Kazakhstan as they had worked previously for ORYX in that customers Arman Oil field.
This is a momentous undertaking for Parker and they are one of the first to make inroads into this area that will be the last of the fabously oil-rich deposits remaining in the world.
Do you have any information to add to this area?
Santiago
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