NCOC reaches one billion barrels of oil
North Caspian Operating Company N.V. (NCOC), the Operator of the North Caspian project, has produced one billion barrels of oil since the Kashagan field start-up, Kazinform News Agency cites the company's press service.
On 4 July NCOC achieved the remarkable milestone of producing one billion barrels of oil from the Kashagan field, the press release reads.
This milestone demonstrates stable operation and development of the North-Caspian Project, which makes a significant contribution to the socio-economic development of the Republic of Kazakhstan.
Congratulating the team on this achievement, NCOC Managing Director Giancarlo Ruiu said: “Today we reached an important milestone in our Company's journey: 1 billion barrels of Kashagan oil produced since the start-up in 2016. This accomplishment truly represents the countless hours of steady work, thoughtful solutions, and the quite dedication that all involved parties have brought to our operations. This one-billion-barrel mark is, in many ways, a moment to appreciate our history; it also points us towards the future.
We sincerely thank our big team, the Government of Kazakhstan, the shareholders and all our business partners for fruitful cooperation!”
To note, Kazakhstan sent first batch of oil from Kashagan field to Baku this January.