ATYRAU, Kazakhstan – The North Caspian Operating Co. (NCOC) says first oil has been produced from the Kashagan field in the Kazakh sector of the Caspian Sea.
Kashagan, 80 km (49.7 mi) southeast of Atyrau, is the largest oil accumulation in the North Caspian Sea with estimated oil in place of around 35 Bbbl. Future phases of development projects could significantly increase production volumes.
NCOC acts on behalf of seven co-venture consortium partners as operator, appraising and developing the hydrocarbon assets of 11 offshore blocks under the North Caspian production sharing agreement. Their equity interests are: KazMunayGas 16.81%, Eni 16.81%, ExxonMobil 16.81%, Shell 16.81%, Total 16.81%, ConocoPhillips 8.40%, and INPEX 7.56%.
Other assets within the 5,600-sq km (2,162-sq mi) contract area include the Kalamkas Sea, Kashagan South-West, Aktote and Kairan fields.