Caspian Sea Regional Brief

(Thu, 06 Feb 2025) The Caspian Sea region is one of the oldest oil-producing areas in the world. The four Caspian countries covered in this brief accounted for 3% of global energy production and 1% of global energy consumption in 2023, with Kazakhstan accounting for almost one-half of the region’s energy production and consumption. OPEC+ member Azerbaijan was the top producer of oil and natural gas from offshore Caspian Sea fields, and almost all of its petroleum and natural gas production comes from offshore in the Caspian Sea.