Conclusion

Abstract

This study has tackled the trajectory of economic relations between oil and gas companies and governments operating in the Caspian Sea region. The topic of energy is widely popular at the present time, with oil prices currently US$125/bbl and rising. A certain amount of research has been done to assess the economic impact of hydrocarbons in the Caspian region (Kalyuzhnova, 2002; Pomfret, 2006; Najman, et al., 2007, etc.) based on macroeconomic or microeconomic analysis. However, there is no single coherent study to date attempting to understand the economics of hydrocarbon wealth from the position of company-government relations. This book aims to fill that gap.