Russia and Kazakhstan launch joint geological exploration project “Eurasia”

President of Russia Vladimir Putin and President of Kazakhstan Nursultan Nazarbayev have launched joint project Eurasia providing for the drilling of a super-deep well, RIA Novosti reports.

The project implementation is aimed at discovery of hydrocarbon deposits at the depth of about 7-9 km in the area of Peri-Caspian Lowland.

According to the project coordinator Baltabek Kuandikov, a consortium is to be created in the nearest time for the project implementation which is to commence next year.

The 5-year project is estimated at $500 mln.