| Contract area (block) | Project status | Production capacity | Venture company (established) | Interest owned | Contract type |
|---|---|---|---|---|---|
| Offshore North Caspian Sea | In production |
|
INPEX North Caspian Sea, Ltd. (Aug. 6, 1998) |
The seven companies will form the North Caspian Operating Company(NCOC),
with NCOC as the operator
|
Production sharing agreement (Kashagan Oil Field: Until the end of 2031 * The contract can be extended to 2041 under the current contract conditions) |
Project History
| September 1998 | INPEX acquires interests in Offshore North Caspian Sea Contract Area in Kazakhstan |
|---|---|
| October 2016 | Commences crude oil shipment |
INPEX acquired an interest in the Offshore North Caspian Sea Contract Area in Kazakhstan's territorial waters in September 1998. The Kashagan Oil Field is located in the Caspian Sea approximately 75 kilometers southeast of Atyrau, Kazakhstan, where the water depth is 3-4 meters. Crude oil shipments commenced in October 2016. The cumulative production of crude oil reached 1 billion barrels in July 2025. The project has achieved its initial production volume target of 370,000 barrels per day. Currently, work is being implemented to increase the daily production volume to 450,000 barrels per day.
