What is NCOC, and who are its key stakeholders?

NCOC (North Caspian Operating Company) is a joint venture that operates Kazakhstan’s offshore Kashagan oil field, and its stakeholders include Shell (SHEL.L), TotalEnergies (TTEF.PA), ExxonMobil (XOM.N), and China's CNPC, among others.

Kazakhstan Suspends Proceedings to Recover $5 Billion from NCOC Oil Consortium

Q: Why has Kazakhstan suspended enforcement proceedings to recover $5.06 billion from NCOC?

Kazakhstan's Ministry of Justice has suspended enforcement proceedings to recover 2.3 trillion tenge ($5.06 billion) from the North Caspian Operating Company (NCOC) amid an ongoing legal standoff, in which the Kazakh government accuses NCOC of environmental violations related to sulphur storage at the Kashagan oil field and has ordered it to pay a large fine—allegations NCOC and its contractors reject, with the case currently pending in international arbitration.

Sep 8, 2026

Kazakhstan suspended enforcement proceedings to recover $5 billion from the North Caspian Operating Company (NCOC) over alleged environmental violations at the Kashagan oil field. The move impacts major partners like Shell and ExxonMobil amidst ongoing legal disputes and resource nationalism accusations.

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Kazakhstan freezes assets of Kashagan operator over disputed $5 bln environmental fine

2026-09-08

Kazakhstan Suspends Proceedings to Recover $5 Billion from NCOC Oil Consortium

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