Managing director of the North Caspian Operating Company N.V. (NCOC N.V.), dealing with the development of the Kashagan offshore field in Kazakhstan, Stephen de Mayo, is leaving his post, the press service of the company said, Kazinform news agency reported.
It is expected that Bruno Jardin, who is now the head of the ExxonMobil Kazakhstan company, will take this position, according to the agency.
Stephen de Mayo has been the head of NCOC N.V. since May 2014. His main task was elimination of problems, due to which oil production at the Kashagan field was suspended.
Kashagan is a large oil and gas field in Kazakhstan, located in the north of the Caspian Sea. The geological reserves of Kashagan are estimated at 4.8 billion metric tons of oil. The total oil reserves amount to 38 billion barrels; some 10 billion out of them are recoverable reserves. There are large natural gas reserves at the Kashagan field - over one trillion cubic meters.
The production at the Kashagan field started September 2013, but in October, it was ceased after a gas leak in one of the main pipelines. The analysis revealed numerous cracks in the pipeline, which needed to be completely replaced. The replacement was projected to take at least two years.