Discoveries alter Caspian region energy potential

12/17/2001
Caspian Production Potential—1First in a series.Within the past 18 months, a number of key world-class oil and gas discoveries have transformed the outlook for the Caspian Sea region. Russia's already dominant position in the region was strengthened further during 2000 with the discoveries of Yuri Korchagin and Khvalynskoye oil fields on the Severnyi block. But perhaps more importantly, the discovery of Kashagan oil field in 2000, one of the largest fields in the world to be discovered in recent times, has shifted the reserves balance clearly in favor of Kazakhstan.Due to the large gas reserves found in all the main projects, gas will play an increasingly important role in develo...
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