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North Caspian project to have one joint company

December 10 2014, 10:50

By Laura Suleimenova

NCOC Consortium Managing director Stephen de Mayo.NCOC Consortium Managing director Stephen de Mayo.Yesterday, December 9, at the public hearings, NCOC Consortium Managing director Stephen de Mayo made an official statement about the transition of the Consortium to the new management system.

The topic of discussion at the public hearings was Environmental Impact Assessment (EIA) of the “Construction project of facilities for Kashagan field experimental program. Flowlines. Modifications”.

Stephen de Mayo informed that integration process and merging of companies within NCPSA framework has started this year:

- This process will not affect the course of work on replacement of pipelines, preparations for production re-start, and completion of Stage 1 remaining work scopes.

According to S. de Mayo, in the course of transition process the Agip KCO shares have been transferred to NCOC B.V. – current NCPSA Operator. Agip KCO N.V. has been renamed to NCOC N. V. and received the shares of NCPOC B.V. So, currently, NCOC H.V., NCPOC and NCOC B. V. have a single structure of property which simplifies the corporate management required for gradual merging into one joint company. Legal merging of these three companies is scheduled for 2015.

He also announced that according to the above changes he is currently the managing director of all three companies:

- It is also planned that I will hold the position of the managing director of the joint company.

After that he introduced appointed heads of two departments of the future joint company: Baltabai Kuanyshev will manage the department of corporate services, including external relations and permitting and Igor Lukashov - the director of environmental protection, loss prevention, safety and sustainable development.

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