NORTH CASPIAN OPERATING COMPANY N.V

North Caspian Operating Company N.V. is the Operator of the North Caspian Sea Project in the Republic of Kazakhstan acting on behalf of a consortium of seven energy companies under the Production Sharing Agreement in respect of the North Caspian Sea dated as of November 18, 1997, as amended and supplemented.

The North Caspian Sea Project comprises a giant Kashagan oil field located 80 km south-east of Atyrau, as well as Aktote and Kairan fields.

The Kashagan is one of the largest oil discoveries with approximately 9-13 billion barrels of oil in place. The development of Kashagan in the harsh offshore environment of the North Caspian Sea represents a unique combination of technical and supply chain complexities. The combined safety, engineering, logistical, and environmental challenges make it one of the largest and most complex industrial projects currently being developed anywhere in the world.

The participating interests of the consortium members: KMG Kashagan B.V. - 16,88%, Agip Caspian Sea B.V. - 16,81%, ExxonMobil Kazakhstan Inc. - 16,81%, Shell Kazakhstan Development B.V.- 16,81%, TotalEnergies EP Kazakhstan - 16,81%, CNPC Kazakhstan B.V. - 8,33%, and Inpex North Caspian Sea, Ltd - 7,56%.