Agip Kazakhstan North Caspian Operating.
Agip KCO acts as an agent for the operator of the North Caspian Sea Production Sharing Agreement of 1997, North Caspian Operating Company, NCOC. NCOC itself acts on behalf of co-venture partners comprising state oil company KMG, Eni, Shell, ExxonMobil and Total along with ConocoPhillips and INPEX, who hold smaller equity stakes.
An Eni subsidiary, Agip KCO is responsible for the execution of the first phase of development of the giant Kashagan field which holds some 35 billion barrels of oil in place and reserves of over 11 billion barrels beneath the Kazakhstan section of the north Caspian Sea.
Agip KCO is also responsible for the project execution of the onshore elements of the second phase of the Kashagan development.