Insight
Caspian upstream: 5 things to look for in 2017
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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 the following images and tables:
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Caspian upstream: events to look for in 2017Regional capital expenditure trend (2014-17)Regional operating costs trend (2014-17)
What's included
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