Caspian Energy Contracts: A Comparative Analysis of Legal Application Issues With the Experience of Azerbaijan and Kazakhstan

The main purpose of this article is to compare the legal and economic aspects of energy contracts in the Caspian Sea and, in particular, analyzes the experiences of Azerbaijan and Kazakhstan in this field.The Caspian Sea, with its rich oil and gas reserves, places the exploitation of energy resources and corresponding international agreements at a very important position in this region.Azerbaijan began to widely exploit the oil and gas reserves in the Caspian Sea in collaboration with international oil companies under the "Contract of the Century" signed in 1994.This agreement also integrated Azerbaijan into the international energy market and had a significant impact on the country's economic development.Kazakhstan, for its part, holds an important position in the international market with large oil fields such as "Tengiz" and "Kashagan."Cooperation with foreign investors in Kazakhstan's energy sector has become an important factor in the country's economic development.