Insight
Caspian upstream: 2017 in review
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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
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Five key Caspian events in 2017
- 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
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Five key Caspian trends in 2017
- 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 the following images and tables:
- 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:
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