Geological Basins and Oil and Gas Reserves of the Greater Caspian Region
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The part of Central Asia around the Caspian Sea, commonly referred to as “the Caspian region”, has been a subject of tremendous attention in the past few years. After the collapse of the Soviet Union this area, known as one of the oldest and most prolific petroleum provinces in the world, became open to foreign investors who were eager to pursue oil and gas exploration and production in the region. The estimates of hydrocarbon reserves in the region varied significantly, and it has even been speculated that the undiscovered Greater Caspian reserves rival those of the Persian Gulf countries. Since the time when the doors were first open to foreign investors, the prognosis for hydrocarbon exploration and production changed from highly optimistic to cautious. While some companies have already exited the region, others have been successful in pursuing production from the existing fields and discovering new ones.
KeywordsCaspian Region Caspian Basin Recoverable Reserve South Caspian Basin Geological Basin
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