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Analysis: Caspian division inches forward
Washington DC (UPI) Apr 20, 2009 - Since 1991, the Caspian basin has emerged as the world's leading untapped energy source. According to the U.S. government's Energy Information Administration, the Caspian's 143,244 square miles and attendant coastline could contain as much as 250 billion barrels of recoverable oil besides an additional 200 billion barrels of potential reserves. Additionally, the EIA places the Caspian basin's natural gas reserves at up to 9.2 trillion cubic meters of recoverable natural gas; even with oil at $50 a barrel, down from its July 11 record high of $147.27 per barrel, the region's recoverable oil alone is worth $12.5 trillion.
Apr 20, 2009