USA no more need Iraqi oil

It is a real gift for Americans to learn that an oil deposit was found literally close by them. If this peace of information is confirmed, Washington could confidently declare it no long depend on oil slip-knot of the Arab world. Real reserves of Atlantice oil deposit situated in Mexican Gulf are almost two times more than it was preliminarily appraised by experts. Such statement was made by BP company. According to BP director Dick Olver, data received as a result of additional boring, will made Atlantice a deposit of world level. According to the results, oil reserves of Atlantice are equal to 575 million barrels against 300 million declared before. Taking into account the new results of geological survey, BP company approved additional financing of working of the deposit, while the extracting should start already in 2005. The part of BP company’s outlay is expected to exceed 1 billion dollars. The deposit of which 44 percent belong to BHP Billiton Australian company is situated approximately at a distance of 225 km southward from New Orleans, Dow Jones Newswires reports. Dmitry Chirkin PRAVDA.Ru

Translated by Vera Solovieva

Read the original in Russian: http://www.pravda.ru/main/2002/05/03/40611.html