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Total oil reserves of the Caspian Sea region are estimated at above
200 billion barrels which exceeds that of Western Europe and/or the
United States 110 billion barrels and puts it in second place after the
Middle Easts 700 billion barrels. Total production, currently at 1
million b/d, could reach 3.4 million b/d by the year 2010.
The two main oil producing countries in the Caspian sea region are
Azerbaijan and Kazakhstan, with more than 80% of the expected oil
reserves and where 85% of the foreign investments in the region are
concentrating.
Photograph of the
biggest oil producing
country of the Caspian
sea region from space,
Azerbaijan.
The Caspian
sea
Azerbaijan