A single field has captivated the industry. Situated 40 miles offshore in the Caspian Sea, it is called Kashagan. This spring, a foreign consortium plans to drill the first test well. Much is at stake, if Kashagan proves to be big, the Caspian would be confirmed as one of the world's great oil regions. In addition, the sea would justify a $4 billion pipeline that the White House - seeking to support the independence of Central Asian republics from Russia and Iran - has urged oil companies to build to the Mediterranean Sea.