World Energies Summit Panel Recap: Upstream Outlook - Caspian & Central Asia Opportunities and Challenges
The Caspian basin remains a cornerstone of global energy, from its historic role as a cradle of the oil and gas industry to its evolving geopolitical and commercial dynamics shaped by Russia, China, and Europe.
Our panel of experts underscored that the Caspian’s significance is more than historical; it remains pivotal to Eurasia’s evolving energy and economic landscape.
💡 Human Capital & Governance
A new generation of Ivy League and UK-educated leaders now drive national energy strategies across Kazakhstan and Azerbaijan, bringing global business acumen into state enterprises.
💡 Exploration Outlook
Despite a lull following the major discoveries of Tengiz and Kashagan, exploration momentum is returning in Kazakhstan and with renewed activity in Uzbekistan’s frontier basins. SLB is supporting the region through 4D seismic rejuvenation and ultra-deep well projects.
💡 Commercial Landscape
The Southern Gas Corridor continues to deliver reliability across Southeast Europe, though expansion faces upstream and policy challenges. LNG developments and Romania’s emergence as the EU’s leading gas producer are reshaping supply flexibility.
💡 Strategic Outlook for Azerbaijan
With oil output declining and gas growth constrained, Azerbaijan’s long-term strategy is shifting toward economic diversification, balancing legacy energy exports with future industrial ambition.
With legacy fields maturing and regional competition intensifying, the Caspian’s next chapter hinges on strategic reinvention, both subsurface and above ground.
