The US Government View of Energy Developments in the Caspian, Central Asia, and Iran
The Caspian Sea is developing into a significant oil and gas exporting area, and the Caucasus is a potentially major world oil transit center. Proven oil reserves for the entire Caspian Sea region are estimated at 16-32 billion barrels, comparable to those in the United States (22 billion barrels) and the North Sea (17 billion barrels).
Anthony H. Cordesman
Former Emeritus Chair in Strategy