CO-VENTURERS

Co-venturers under the NCSPSA are also shareholders in NCOC, each holding the same participating interest as in the NCSPSA. Approximate shareholdings are: Agip Caspian Sea B.V. 16.807%, CNPC Kazakhstan B.V. 8.333%, ExxonMobil Kazakhstan Inc. 16.807%, Inpex North Caspian Sea, ltd 7.563%, KMGK Kashagan B.V. 16.877%, Shell Kazakhstan Development B.V. 16.807% Total E&P Kazakhstan 16.807%
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