AAPG Bulletin, V. 83 (1999), No. 12

AAPG FOUNDATION PRATT CONFERENCE: PETROLEUM PROVINCES, 21st CENTURY
January 12-15, 2000
San Diego, California

G. M. GASKINS, Exxon Ventures (CIS) Inc., Houston, TX

Abstract: The South Caspian Basin: A Prolific Hydrocarbon System With Enormous Remaining Potential

The South Caspian Basin comprises a unique set of geologic parameters that rank it among the most prolific hydrocarbon regions of the world. Although located within the Alpine-Himalayan orogenic belt, the sedimentary fill of the South Caspian Basin remains relatively undeformed compared to the adjacent fold and thrust belts. Deformation in the South Caspian is expressed as a series of large buckle folds that overlie a regional detachment and are commonly associated with mud volcanoes. Late Miocene-Pliocene uplift of the surrounding region isolated the basin, and made it a depocenter for more than 10krn of sediment that was shed from both the nearby orogens and the Russian Platform. This recent, rapid burial has resulted in such low temperature gradients that hydrocarbons are still being actively generated at depths between 8 and 12 kilometers.

In the Azerbaijan sector of the South Caspian Basin, approximately 11 billion oil-equivalent barrels of cumulative production have been reported from onshore and nearshore fields, with an additional 10 billion oil-equivalent barrels of discovered reserves that are either under production or undeveloped. Estimates for undiscovered offshore potential vary widely, but most assessments provide volumes that rival other major hydrocarbon-producing regions. Much of the remaining exploration potential lies in water depths between 300 and 700 m, and will require drilling to vertical depths of more than 6000 m. Of an estimated 50 potential offshore structures, 13 Production Sharing Agreements have been signed with the Azeri government to-date, with billions of dollars in planned foreign investments.

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