Shell makes major oil discovery

Murphy Oil said recently Kikeh had a recoverable reserves base of over 400 million barrels and was expected to produce 120,000 gross barrels of oil per day in the first two years, and to continue at that level for six years. It planned to start production in Kikeh in 2007.

PO comment – This is classed a “major” discovery. 400 million barrels… The world uses in excess of 80 million per day.

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