North Caspian Operating Company N.V. (NCOC) North Caspian Operating Company N.V. (NCOC)

North Caspian Operating Company N.V. is one of the largest enterprises of the oil and gas industry of the Republic of Kazakhstan, which is engaged in the implementation of the project for the development of offshore oil and gas fields in the Republic of Kazakhstan. According to the information for August 2021, NCOC acts on behalf of seven consortium participants as the designated operator for hydrocarbon exploration and production under the North Caspian Production Sharing Agreement (SRPSK) of November 18, 1997, as amended and supplemented.

History

2023: Kazakhstan files $5.14 billion lawsuit against consortium for environmental violations

Kazakhstan filed a lawsuit against the consortium for the development of the Kashagan field - North Caspian Operating Company (NCOC) - for $5.14 billion for violating environmental protection, the Ministry of Ecology and Natural Resources of the country reported. The ministry accuses the NCOC of storing more than twice as much sulphur as allowed at the site, the agency said. NCOC's shareholders include Italy's Eni, America's Shell and ExxonMobil and France's Total. Each of the companies has a 16.81% stake in the project.

2021

Shares of Consortium members in the project

Shares of Consortium members in the project (as of August 2021):

• KMG Kashagan B.V. - 16.88%,
• "Agip Caspian C.B.V." - 16.81%,
• ExxonMobil Kazakhstan Inc. - 16,81%,
• Shell Kazakhstan Development B.V. - 16.81%,
• Total Energy EIP Kazakhstan - 16.81%,
• KNNK Kazakhstan B.V. - 8.33%,
• and Inpex North Caspian Sea, Ltd., at 7.56%.

SRPSK Contract Area

As of August 2021, the contract area of ​ ​ 5,600 square kilometers under the SRPSK (Production Sharing Agreement for the North Caspian) includes the Kashagan field 80 km southeast of Atyrau. Also on the site are the Aktoty and Kairan deposits.