News 2013October, 2013
On November 1, 2013 Umberto Carrara refused to be the Managing Director of Agip KCO after having worked on Kashagan project for more than seven years. His place will be taken by Guido Brusco, who has been the Director of the Industrial Operations Department at Kashagan project of Agip KCO since September 2009, said the press office of the North Caspian Operating Company (NCOC) Consortium.
Agip KCO acts as an agent for NCOC - the operator of the North Caspian Sea Production Sharing Agreement, signed in 1997. NCOC acts on behalf of the co-venture partners comprising state oil company KazMunayGas, Eni, Shell, ExxonMobil and Total along with ConocoPhillips and Inpex, who hold smaller equity stakes.
An Eni group subsidiary, Agip KCO is responsible for the execution of the first phase development of the giant Kashagan field, located in the Kazakhstan section of the North Caspian Sea. Geological oil reserves amount to 35 billion barrels of oil equivalent, of which more than 11 billion are potentially recoverable. Agip KCO is also responsible for implementing the onshore elements project at the second phase of Kashagan development.