Name: Caspian upstream: 2017 in review
Brand: Wood Mackenzie
SKU: 81045
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Author: Wood Mackenzie

Insight 18 January 2018

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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The Caspian upstream has never had a higher profile. It is home to almost 6 million boe/d of production, 10% of value for several Majors, 15% of China's gas supply and projects of a near-unrivalled scale. Despite lower investment, 2017 began the region's transition back to growth. Our review covers the main events and trends of the year, including: • Milestone of the year: Contract extension at Azerbaijan's ACG oil megaproject • Start-ups of the year: LUKOIL's Southwest Gissar and Kandim gas plants in Uzbekistan • Record of the year: Kazakh liquids hit a new high thanks to Kashagan ramp-up • Themes of the year: Improved project delivery and tax and regulatory reform. The region's events to look for in 2018 will build on the steps taken in the year gone by.</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

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        <a href="#c22b9220-1cca-4db4-94ce-e04c40d4e994" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="c22b9220-1cca-4db4-94ce-e04c40d4e994" aria-expanded="false">
            Five key Caspian events in 2017
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        <ul id="c22b9220-1cca-4db4-94ce-e04c40d4e994" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        1. BP and partners seal ACG contract extension in Azerbaijan
    </li>
    <li class="push-quarter--bottom">
        2. Kashagan ramp-up hinders Kazakh compliance with OPEC+ cut
    </li>
    <li class="push-quarter--bottom">
        3. LUKOIL launches its growth projects in Uzbekistan
    </li>
    <li class="push-quarter--bottom">
        4. Kazakhstan accelerates its China gas exports
    </li>
    <li class="push-quarter--bottom">
        5. Azerbaijan completes its new semi-submersible rig
    </li>

</ul>
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<li class="list__item-toggle">
        <a href="#ace45f79-3773-477b-b05a-6cbdc44521e7" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="ace45f79-3773-477b-b05a-6cbdc44521e7" aria-expanded="false">
            Five key Caspian trends in 2017
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        <ul id="ace45f79-3773-477b-b05a-6cbdc44521e7" class="panel-toggle push-half--left push-half--bottom">
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        1. Project delivery success defies the long-held stereotype
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    <li class="push-quarter--bottom">
        2. Incentivised tax terms in Azerbaijan and Kazakhstan
    </li>
    <li class="push-quarter--bottom">
        3. Uzbek reforms raise hopes for upstream future
    </li>
    <li class="push-quarter--bottom">
        4. Regional infrastructure expansion continues
    </li>
    <li class="push-quarter--bottom">
        5. Caspian exploration deepens its focus
    </li>
    <li class="push-quarter--bottom">
        Top Insights of 2017
    </li>

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    </li>

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<h3 class="alpha push-half--bottom">Tables and charts</h3>

<p class="push-half--bottom">This report includes the following images and tables:</p>

<ul class="list list--bullets">
         <li class="list__item push-quarter--bottom">Azerbaijan oil and condensate production</li><li class="list__item push-quarter--bottom">Kazakhstan oil and condensate production</li><li class="list__item push-quarter--bottom">Central Asia gas exports to China</li>
     </ul>
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            View more tables and charts in this report
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        <ul class="list list--bullets panel-toggle" id="ffaf2dd8570545c59ad702517d078034">
            <li class="list__item push-quarter--bottom">Azerbaijan: Umid-Babek RSA terms</li><li class="list__item push-quarter--bottom">Kazakhstan: 'alternative subsoil tax'</li><li class="list__item push-quarter--bottom">CPC liquids pipeline throughput</li>
        </ul>
        
    </div>

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<h3 class="alpha push-half--bottom ">What's included</h3>
<p class="push-half--bottom ">This report contains:</p>
<ul class="list"><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Caspian upstream: 2017 in review</p>
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