Hoping for a gusher

  • 27/12/1998

  • Economist (London)

This month, after years of planning and many delays, the Offshore Kazakhstan International Operating Company (OKIOC) finally began drilling its first well in the Kazakh sector of the Caspian Sea in the hope of discovering what may be one of the largest undeveloped oilfields in the world. It has also led to mounting concerns about the environmental impact of an oil boom. the northern part of the Caspian Sea is extremely shallow, with depths of only two to nine metres. Among its abundant wildlife are three-quarters of the world's sturgeon. Green activists fear an accident involving oil rig or pipeline could ruin the sea.