As most have likely noticed, when it comes to oil and gas the wild west of the US 1880’s has come to central Europe/Asia. Find it, drill it and get it to market is the cry of the day. It doesn’t matter what gets in the way, just get the product to market for sale. Just as in the US’s oil history, there have been stumbling blocks for central European oil companies to overcome, but if a company can offer a service to solve the stumbling block, profit will be waiting on the other side.

Caspian Services Inc., an oil and gas services company, works to offer oil and gas services primarily in the on/offshore oil and gas development regions of Kazakhstan-Caspian Sea. The company offers a full range of oil and gas services but specializes in the unique services required to operate in the Caspian Sea oil and gas markets.

The company operates in three areas: marine, geophysical and infrastructure. The marine portion of the company’s business highlights its ability to service the region’s 7-9 billion barrels of oil with 15 shallow draft vessels. Generally, one might not consider this as a large selling point in many offshore drilling operations. In the Caspian Sea, however, this is a very large selling point owing to the very shallow waters of the region. With vessel drafts of 1.5 meters, the company has access to a large customer base where support services are required. This also holds true for the company’s geophysical activities.

Operating through three subsidiaries of various ownership positions and agreements, Tat-Arka Ltd. JAC Kazmorgeophysica CJSC and Veritas Caspian LLP provide 2D and 3D seismic reading services for on/offshore exploration sites. The company has found its ability to generate results in 2 meters of water to be very profitable. Moving forward, the company and subsidiary Balykshi LLP have recognized an opportunity for marine land based services. To this end, and in addition to the company’s quickly growing water desalinization plant activities, it has acquired property at shores edge to provide safe harbor for vessels seeking winter anchorage and associated services.

From all indications, the company’s activities are progressing at a solid and sustainable pace. Managing growth is the key ingredient to near term profits. Operational revenues in the marine and water desalinization areas are solid and improving as 2008 starts to wind down. Administration costs, however, have been growing at a correspondingly fast rate as the company experiences growing pains from past and current successes. Generally speaking, Caspian Services has found a solid oil and gas services market to stake its claim. Expansion and solid revenue growth do appear to be indicated as the company solidifies and expands its position.

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