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NCOC looking to commence Marine Access Channels Project implementation

Oil&Gas Materials 13 May 2021 03:55 (UTC +04:00)
NCOC looking to commence Marine Access Channels Project implementation

BAKU, Azerbaijan, May 13

By Nargiz Sadikhova - Trend:

North Caspian Operating Company (NCOC) is planning commence the Marine Access Channels Project implementation on time, the NCOC told Trend.

On Apr. 7, 2021 NCOC informed the public about Marine access channels project, which became quite controversial with some experts criticizing these plans. The company planned to conduct an open round-table in respect of the Marine Access Channels Project for the purpose of discussing the issues of interest with stakeholders.

The company emphasized that the project has already passed all required state expertise and has formally received state authorities approvals.

"As per current plans NCOC will commence the project implementation on time. The round table was organized to discuss the community’s concerns regarding dredging works, increase their awareness about this project and to collect recommendations," the company said.

The North Caspian Project is the first major offshore oil and gas development in Kazakhstan. It covers three fields: Kashagan, Kairan, and Aktoty.

The Kashagan field is one of the three largest oil fields located in the northern part of the Kazakh sector of the Caspian Sea. Its recoverable reserves reach approximately 9-13 billion barrels (1-2 billion tons) of oil.

The first commercial oil production started at Kashagan in 2016. The project operator North Caspian Operating Company (NCOC) shipped the first million tons of oil for export in early 2017. NCOC has reached a record-breaking volume of oil extraction at the field (390,000-400,000 barrels a day) in 2019.

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Follow the author on Twitter: @nargiz_sadikh

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