Company Overview of North Caspian Operating Company B.V.

Company Overview of North Caspian Operating Company B.V.

North Caspian Operating Company B.V. is engaged in the production of oil and gas in Kazakhstan. North Caspian Operating Company B.V. was formerly known as Agip Kazakhstan North Caspian Operating Company NV and changed its name in January 2009. The company was founded in 1998 and is based in Atyrau, Kazakhstan.

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, Total S.A. (16.81% each ), China National Petroleum Corporation (8.4%) and Inpex, (7.56%).

In June 2015 the restructuring the North Caspian Project Operating Model was completed by means of the accession to North Caspian Operating Company N.V. (“NCOC NV”) of North Caspian Operating Company B.V. (“NCOC BV”) and NC Production Operations Company B.V. (“NCPOC”). NCOC NV became the universal successor of NCOC BV and NCPOC and formally became operator under the NCSPSA. Assets within the 5,600 square kilometer NCSPSA contract area include the giant Kashagan field, one of the largest petroleum developments in the world. 

North Caspian Operating Company > NCSPSA

North Caspian Operating Company > NCSPSA. Photo credit: ncoc.kz

HISTORY IN MILESTONES

1997 North Caspian Sea Production Sharing Agreement signed.
1998 Offshore Kazakhstan International Operating Company (OKIOC) formed to explore and produce hydrocarbons within the 5,600 square kilometer NCSPSA contract area.
2000 Kashagan field discovered.
2001 A new operating company was formed, Agip Kazakhstan North Caspian Operating Company N.V. (Agip KCO).
2002 Kashagan Declaration of Commerciality.
 

 

2005

KMG joined the Consortium.
2006 First production well commissioned.
2009 A new operating company, North Caspian Operating Company B.V. officially became Operator under the NCSPSA, taking over responsibilities formerly held by Agip KCO.
2015 North Caspian Operating Company N.V. (“NCOC NV”) became the universal successor of NCOC BV and NCPOC.
2016 September. First well on A-Island was re-opened.

 

2016 October. First batch of crude oil dispatched for export.

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