In Kazakhstan, North Caspian Operating Company N.V. (NCOC), the operator of the North Caspian project, has produced one billion barrels of oil since the launch of the Kashagan field, Forbes.kz reports.
"On July 4, NCOC reached a major milestone – oil production at Kashagan has reached one billion barrels," the company’s press service stated.
Congratulating the team, NCOC Managing Director Giancarlo Ruiu called the achievement a key milestone in the company's history.
“Since production began in 2016, we’ve extracted one billion barrels. This result reflects countless hours of hard work, strategic decisions, and the dedication of all stakeholders. It's a moment to reflect on our journey and look ahead to new goals. We thank our team, the government of Kazakhstan, project shareholders, and partners for their continued cooperation,” Ruiu said.
The milestone coincided with the anniversary of the field's discovery. As noted by the Oil and Gas of Kazakhstan Telegram channel, July 4 marked 25 years since the official announcement of the Kashagan discovery. On that day in 2000, President Nursultan Nazarbayev arrived in Atyrau and was flown to the "Sunkar" drilling barge, where the OKIOC consortium announced the commercial discovery at East Kashagan.
Kashagan is the first offshore oil and gas field in Kazakhstan’s Caspian sector and the country’s largest international investment project. Its recoverable reserves are estimated between 9 and 13 billion barrels. Commercial production began on November 1, 2016.
NCOC operates the field through a consortium that includes KMG Kashagan B.V. (16.877%), Shell (16.807%), Total (16.807%), Agip (16.807%), ExxonMobil (16.807%), CNPC (8.333%), and Inpex. The Karachaganak field is developed by another international consortium, KPO, comprising Shell (29.25%), Eni (29.25%), Chevron (18%), Lukoil (13.5%), and KazMunayGas (10%).
CentralasianLIGHT.org
July 4, 2025