The oil and gas resource base of the Caspian region

The Caspian Sea regionʹs oil and gas potential has attracted the attention of the international oil and gas industry since the late 1980s and early 1990s with the breakup of the Soviet Union when investment in the region became possible. The nations in the Caspian Sea region—Azerbaijan, Iran, Kazakhstan, Russia, Turkmenistan, and Uzbekistan—are already major energy producers. Production is expected to increase with additional investment, introduction of international technology, and the development of new export outlets. The Caspian Sea is sizeable (700 miles north to south). Six geologically discernable hydrocarbon basins underlie its waters (the Caspian Sea countries also have additional onshore basins). Uzbekistan does not directly border the Caspian Sea, but is considered to be in the Caspian region because it shares several of the regionʹs hydrocarbon basins, and because its proposed oil and gas export routes are also shared with the other Caspian countries.