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Caspian upstream: 5 things to look for in 2017

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15 December 2016

Caspian upstream: 5 things to look for in 2017

Report summary

After an eventful 2016, the Caspian will enjoy a less volatile year in 2017. Upstream operators and the region's hydrocarbon-dependent economies will be more comfortable in a higher oil price, confident that the toughest days are now behind them. Ramp-up at Kazakhstan's super-giant Kashagan field, which began in 2016, will continue at a strong pace throughout 2017. Regional capital expenditure will be flat, albeit ever more reliant on two of the world's largest post-FID megaprojects: Tengizchevroil (TCO) expansion (Kazakhstan) and Shah Deniz Phase Two (Azerbaijan). Other operators will continue to benefit from much of the cost and efficiency savings of 2015-16. 

Table of contents

  • Executive Summary
  • Kashagan drives oil growth, despite symbolic production cut in H1
  • Regional costs trend upwards, but far below 2014 level
  • A decisive year for ACG and Karachaganak megaprojects
  • Clarity on Kazakh fiscal and regulatory reforms
  • Mixed news for regional pipelines
  • Best wishes for 2017 from Wood Mackenzie's Caspian upstream team

Tables and charts

This report includes 3 images and tables including:

  • Caspian upstream: events to look for in 2017
  • Regional capital expenditure trend (2014-17)
  • Regional operating costs trend (2014-17)

What's included

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    Caspian upstream: 5 things to look for in 2017

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