Country Analysis Brief: Azerbaijan
"With oil production in decline in most countries outside OPEC, Azerbaijan is seen as one of the few non-OPEC countries capable of increasing its output significantly over the next few years. However, conflicting claims over the maritime and seabed boundaries of the Caspian Sea have yet to be agreed among the 5 littoral states (Azerbaijan, Iran, Kazakhstan, Russia, and Turkmenistan). An agreement on the division of the Caspian's rich oil and natural gas resources would open up new areas of exploration."