Caspian to focus on social responsibility

BAKU, Azerbaijan, March 17 (UPI) -- A third conference on the Caspian oil and gas sector will highlight social responsibility and environmental awareness, Kazakh officials said.

Baku hosts the two-day Third Caspian Oil and Gas Trading and Transportation Conference on April 27. Energy companies including French supermajor Total, the Caspian Pipeline Consortium and Norway's StatoilHydro are among those registered for the conference.

Kazakhstan Energy and Mineral Resources Minister Sauat Mynbayev said it was important to focus on environmental standards and social responsibility in the exploration and production of natural resources, the Trend news agency reports.

The Caspian has emerged as a key region for oil and gas resources. The offshore Kashagan oil field, discovered in 2000, is one of the largest finds in nearly a decade, with reserves expected to eclipse 9 billion barrels.

Energy experts are expected to highlight the short- and medium-term potential in the Caspian region.

Apart from energy companies, representatives from littoral states to the Caspian Sea, as well as the United States, are expected to attend.