Kashagan development gets new operator

Following the agreements reached between the Kazakhstan Authority and all co-venturers in the international consortium (Eni, ExxonMobil, KazMunayGas, Shell, Total, ConocoPhillips, and INPEX) under the North Caspian Sea Production Sharing Agreement (NCSPSA), the new joint operating company named North Caspian Operating Co. (NCOC) BV has become the operator of the NCSPSA.

Offshore staff

PARIS -- Following the agreements reached between the Kazakhstan Authority and all co-venturers in the international consortium (Eni, ExxonMobil, KazMunayGas, Shell, Total, ConocoPhillips, and INPEX) under the North Caspian Sea Production Sharing Agreement (NCSPSA), the new joint operating company named North Caspian Operating Co. (NCOC) BV has become the operator of the NCSPSA.

Under the terms of the new operating model, NCOC BV takes over the responsibilities as operator of NCSPSA formerly undertaken by Agip KCO. NCOC will oversee the following activities: manage planning, coordination, reservoir modeling, conceptual studies, appraisal plans, early development plans, and government interfaces for the whole venture.

The Kashagan full field development should reach a plateau of 1.5 MMbbl/d of oil, the companies say.

01/23/2009

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