NCOC Disclosed the Exact Amount of Investments and Payments Under the Kashagan Project

According to North Caspian Operating Company N.V. (NCOC), Operator under North Caspian Project, it’s been twenty years since the date of signing of the Production Sharing Agreements (PSA) in respect of North Caspian and Karachaganak Projects.

Such companies as NC “KMG”, Eni, Total, Shell, ExxonMobil, CNPC and Inpex form part of North Caspian Project Venture. Karachaganak Project Venture is represented by British Gas, Eni, Chevron and Lukoil. 

According to NCOC, currently 49% of all gas and 16% of all liquid hydrocarbons produced in Kazakhstan account for the Karachaganak Field. Upon signature of the Final PSA, over $22 bln was invested in the field development, and roughly $26 bln was paid to the Republican budget as taxes and profit on participation in the project.  

Upon signature of the Production Sharing Agreement in respect of North Caspian Project, the estimated amount of investment in Phase 1 of the Kashagan Field Development Project is in the order of $55 bln, while an overall amount of payment of local content in goods, works and services exceeded $13.6 bln since 2004.