North Caspian Operating Company

North Caspian Operating Company (NCOC) made its first two oil shipments from the giant Kashagan field offshore Kazakhstan on 14 October, the country’s energy ministry announced. Gas shipments have also begun. After field startup in 2013, production was quickly suspended until recently because of pipeline technical problems. October oil production was estimated at 75,000 B/D and November/December output is expected to rise to between 150,000 B/D and 180,000 B/D. The NCOC consortium that developed and operates Kashagan under a production sharing agreement (PSA) includes Eni, Shell, Total, ExxonMobil, and KazMunay Gas, each of which holds a 16.81% interest in the PSA; China National Petroleum Corporation (CNPC) (8.4%); and Inpex (7.56%).


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