First Wells Opened at Kashagan

Atyrau, Kazakhstan (ots/PRNewswire) -

On September 11th, the NCSPSA Consortium produced the first
barrels of oil from the Kashagan field in the North Caspian Sea.

The North Caspian Operating Company (NCOC) on behalf of the North
Caspian Sea PSA Consortium announced today the first well was opened
and the initial volumes of oil are being produced from the Kashagan
field.

On the 30 June, RoK President Nursultan Nazarbayev visited the
Kashagan project to celebrate the completion of the facilities
required for initial production. This day marked the commencement of
the start-up of the Kashagan production facilities.

The Kashagan field represents the largest oil accumulation in the
North Caspian Sea with estimated reserves of approximately 35 billion
barrels of oil in place. Future development projects bear the
potential to significantly increase production volumes and position
Kashagan as an important contributor to the world energy market.

NOTES FOR EDITORS:

North Caspian Operating Company B.V. NCOC acts on behalf of seven
co-venture consortium partners as the designated operator appraising
and developing the hydrocarbon assets of 11 offshore blocks under the
North Caspian Production Sharing Agreement dated 18 November 1997, as
amended and supplemented.

Assets within the 5,600 square kilometre North Caspian PSA
Contract Area include the giant Kashagan field, 80 km southeast of
Atyrau. Other assets include the Kalamkas Sea, Kashagan South-West,
Aktote and Kairan fields. Equity interests of the consortium partners
are: KazMunayGas 16.81%, Eni 16.81%, ExxonMobil 16.81%, Shell 16.81%,
Total 16.81%, ConocoPhillips 8.40%, and INPEX 7.56%.

The execution of operations is delegated by NCOC to four agent
companies: Agip KCO; Shell Development Kashagan (SDK); ExxonMobil
Kazakhstan Inc. and NC Production Operations Company B.V. (a KMG
Kashagan B.V. and Shell Kazakhstan Development B.V. joint venture).

NCOC is also responsible for the Consortium's Social and
Infrastructure Projects (SIP) and sponsorship and donation (S&D)
programmes. Implementation of SIP Projects is delegated to NC
Production Operations Company (NCPOC).

FOR ADDITIONAL INFORMATION, PLEASE CONTACT:

Hans Wenck, NCOC External Communications Manager, +77172-35-5093 /
+77019909949 (English language)

NCOC Media Relations Gulmira Shalabekova +77172-35-5122 /
+77019790980

NCOC Media Relations Ainash Chengelbayeva +77122-55-5676 /
+77019790923

Sean Galvin +44-(0)20-7269-7133

Photos of the Kashagan project and a factsheet can be downloaded
from the following link:
https://www.dropbox.com/sh/v6yd0krgdicsq1c/-i3GKmY8bZ

ots Originaltext: The North Caspian Operating Company (NCOC) - Kashagan
Im Internet recherchierbar: http://www.presseportal.de