With the disintegration of the Soviet Union in 1991 Azerbaijan and Kazakstan gained independence. Upon independence both states hoped rapid development of their oil and gas reserves would transform them into new Kuwaits. Although a wide range of international petroleum companies are present, this vision remains far from realized. Arrangement for several, including the largest and most promising are made, but the development of these fields are proceeding extremely slow. Azerbaijan has been an oil producing region since ancient times. It experienced an oil boom at the end of last and the begin of this century. The Nobel family, the Rothschilds, and Shell ll played significant roles in this boom. During the Soviet era, Azerbaijan's importance as oil producer declined, however, it has retained a highly developed oil field equipment manufacturing industry. This industry supplied much of Soviet Union's need.