Watching the World: Caspian's back to the future

10/16/2000
Even before the jaw-dropping discovery this year of the elephantine Kashagan oil field off Kazakhstan, where early reserve estimates were 25-60 billion bbl, and the smaller, though still giant Shah Deniz find off Azerbaijan, UK analyst group Wood Mackenzie calculated there were 76 billion boe of remaining reserves in the four Caspian region nations of Azerbai- jan, Kazakhstan, Turkmenistan, and Uzbekistan (OGJ, July 24, 2000, p. 38). Combined reserves in Western Europe, for comparison, stand at 60 billion boe. Such is the size of the oil and gas prize represented by the Caspian to the West that some observers suggest that supply from the region, assuming intensifying exploration campaigns...
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