--> Abstract: Caspian Sea Region Hydrocarbon Development: Opportunities and Challenges, by R. C. Leonard and D. M. Stone; #90942 (1997).

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Abstract: Caspian Sea Region Hydrocarbon Development: Opportunities and Challenges


LEONARD, RAY C. and DENISE M. STONE

The Caspian Sea Region today is at the threshold of an exciting new phase of energy development. Today, independent republics control the management and growth of Caspian resources. Great opportunity exists to create economic wealth along the energy value chain; exploration, production, marketing and transportation. Realizing this wealth will require international cooperation, thoughtful application of technology and spending plans that meet investor requirements.

The Caspian ranks eighth in world areas in terms of proven reserves and an impressive third after the Middle East and Russia, in terms of worldwide undiscovered resource potential. Several issues need to be resolved for Caspian resource development to occur. In addition to the legal, financial, economic, and technical project requirements, determining the ownership of offshore resources and managing the fragile Caspian Sea environment are critical.

In the Caspian, construction of multiple offshore pipelines is required to significantly increase production, meet market demand and monetize the resources. Seven Caspian export pipeline options are presented here for consideration. Each has a unique set of advantages and risks to the investor. For any one or more of these routes to become a reality, key investment drivers are required. These are significant reserves, international cooperation, profitability and market. The Caspian area is poised for a major upturn in production and growth.

AAPG Search and Discovery Article #90942©1997 AAPG International Conference and Exhibition, Vienna, Austria