north caspian operating company n.v. (ncoc n.v.)

North Caspian Operating Company (NCOC) is an operating company for the North Caspian Sea Production Sharing Agreement (NCSPSA). NCOC is based in Atyrau, Kazakhstan. The agreement includes seven companies consisting of KazMunayGas, Eni, ExxonMobil, Royal Dutch Shell, TotalEnergies (16.81% each), China National Petroleum Corporation (8.4%) and Inpex (7.56%). The North Caspian Project is the first major offshore oil and gas development in Kazakhstan. It covers three fields: Kashagan, Kairan and Aktoty. The giant Kashagan field ranks as one of the largest oil discoveries of the past four decades, with approximately 9-13 billion barrels (1-2 billion tonnes) of recoverable oil. The Kashagan reservoir lies 80km offshore from the city of Atyrau in 3-4 meters of water, and is more than 4km deep (4,200 meters). In 2016, the first offshore oil in the history of Kazakhstan was commercially produced from Kashagan. The Operator of the project, North Caspian Operating Company N.V. (NCOC), completed a major pipeline replacement project ahead of schedule and on September 28 re-opened the first wells offshore. The President of Kazakhstan, Nursultan Nazarbayev, honoured the project workers and veterans with a personal visit to Atyrau on December 7, 2016. For more information about NCOC, visit: www.ncoc.kz