ABSTRACT
Kazakhstan, Azerbaijan, and Turkmenistan are all thought to have significant reserves, with Kazakhstan described by one energy analyst as a Saudi Arabia of 50 years ago. With current Saudi proven reserves at 257 billion barrels, the potential for Kazakhstan is huge. Conservative estimates for smaller reserves in Azerbaijan and Turkmenistan total another 10 billion barrels. The Caspian Sea basin is thought to hold at least another 50 billion barrels. In China, potential reserves in the Tarim basin are thought to be even larger than those in Kazakhstan and the Caspian Sea. Tremendous investments in these reserve areas by companies, such as Chevron, Amoco, and British Petroleum are evidence of their great potential.
