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Caspian upstream: 2017 in review

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18 January 2018

Caspian upstream: 2017 in review

Report summary

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.

Table of contents

    • 1. BP and partners seal ACG contract extension in Azerbaijan
    • 2. Kashagan ramp-up hinders Kazakh compliance with OPEC+ cut
    • 3. LUKOIL launches its growth projects in Uzbekistan
    • 4. Kazakhstan accelerates its China gas exports
    • 5. Azerbaijan completes its new semi-submersible rig
    • 1. Project delivery success defies the long-held stereotype
    • 2. Incentivised tax terms in Azerbaijan and Kazakhstan
    • 3. Uzbek reforms raise hopes for upstream future
    • 4. Regional infrastructure expansion continues
    • 5. Caspian exploration deepens its focus
    • Top Insights of 2017

Tables and charts

This report includes 6 images and tables including:

  • Azerbaijan oil and condensate production
  • Kazakhstan oil and condensate production
  • Central Asia gas exports to China
  • Azerbaijan: Umid-Babek RSA terms
  • Kazakhstan: 'alternative subsoil tax'
  • CPC liquids pipeline throughput

What's included

This report contains:

  • Document

    Caspian upstream: 2017 in review

    PDF 982.31 KB

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