Wood Mackenzie’s Caspian upstream research team have assessed the most significant events of 2014 impacting the region’s oil and gas sector, including the Ukraine crisis and the collapse of global oil prices and significant progress with the region’s high profile megaprojects, identifying the key areas to watch this year.
Samuel Lussac , Manager of Wood Mackenzie’s Caspian Upstream research service says: “The low oil price and Russia’s economic turmoil will make 2015 a year of great uncertainty for the Caspian region. State budgets will have to adjust to lower revenues, operators will optimise expenditure, and exploration activity is likely to remain at a low level. However, despite this tough outlook, production from the region’s megaprojects will increase, M&A activity will stay high and the Southern Gas Corridor will enter the construction phase.”
Wood Mackenzie’s latest upstream analysis highlights some of the key upstream developments to look out for in the Caspian region in the coming year.
Source: Wood Mackenzie