About
Kashagan Field (Offshore), Kazakhstan
Operator: North Caspian Operating Company B.V. (NCOC BV)
Co-venturers: Eni (16.81%), ExxonMobil (16.81%), Shell (16.81%), Total (16.81%), ConocoPhillips (8.4%), INPEX (7.56%), KazMunayGas (16.81%)
In 1998, ConocoPhillips acquired an interest in 10.5 blocks off the coast of Kazakhstan through the Republic of Kazakhstan’s North Caspian Sea Production Sharing Agreement (NCSPSA). The first exploration well, Kashagan E-1, was completed as a discovery in 2000. In 2002, the well was declared commercially viable, and in 2004, the Republic of Kazakhstan approved the Kashagan development plan and budget.
First production is expected in the latter part of 2012. The initial production phase of the contract is for 20 years, with options to extend the agreement an additional 20 years.
In 2008, final agreements were signed that reduced ConocoPhillips’ interest in the NCSPSA from 9.26 percent to 8.40 percent. [1]
