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At that times the known oil reserves differed from what people in Russia know about it now. The main places to drill for oil was Southern Russia on contrary to frozen Northern Siberian regions as it’s for now. And the gemstone of the Soviet Oil production was Caspian sea region, mainly the territories that are an independent state of Aizerbajan now.
So after a massive attack of oil thirsty state the lands of this previously oil-saturated region little by little got exhausted of the black mineral treasure and the need for new sources of it arouse. Now it’s not clear who was that this genius who first came up with an idea of getting the oil right from the sea bottom where it was still plenty of it and for this purpose to build a real city 42 km (25 miles) off the coast right in the middle ofthe sea, but what we know is that this idea came into play and by some crazy chance it got support from that times Soviet leaders who leveraged it with the all support the biggest (by the territory) state could offer at that time. What this meant is that in a matter of just a few month a real town was built right in the middle of the nowhere on giant steel blocks coming from the sea bottom, from as deep as hundreds of feet down. And they called it “Oil Stones”.
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Also there is a good old Soviet documentary footage from this place, made on its rise, where you still
can see the fountains working, people are happy and no shadow of coming times can be guessed looking
at the place itself and at the faces of its inhabitants