Economic Benefits to Kazakhstan
As Kazakhstan's largest direct foreign investment project, the North Caspian project has a powerful multiplier effect on the economy, creating employment opportunities for Kazakhstani people and opportunities for local companies. At the peak of construction in 2010, the Kashagan Phase 1 project employed more than 42,000 workers, including contractors, making it one of the largest employers in the country. NCOC remains a major employer in the Atyrau and Mangystau regions today.
NCOC is committed to developing a world-class project that maximises the use of local goods, works and services, whilst developing the skills of local people and the capacity of local companies.
US$757 million was spent on local goods, works and services in 2017. Overall payments for local goods, works and services have totalled more than US$13.67 billion since 2004. To date, the Kashagan project has directly contributed over half a billion US dollars for the benefit of local communities. Read more...
Social and Infrastructure Projects
Under the North Caspian Sea PSA, NCOC allocates a budget each year for the development of social infrastructure projects. In 2017, this budget amounted to US$50 million. The funds (for the construction of schools, kindergartens, hospitals, sport facilities, as well as utilities such as roads, electric power water supply lines and other infrastructure designed to benefit the community) are split equally between the Atyrau and Mangystau regions, where North Caspian project activities are centred. Between 1998 and 2017, 187 social infrastructure projects were completed. The cumulative spend on social infrastructure projects has thus reached US$570.4 million.
SIP projects executed since 1998 to 2017 in Atyrau and Mangystau Regions
Sponsorship and Donations Programme
Through its Sponsorship and Donations grant programme, NCOC responds directly to the needs and requests of local communities. US$1.5 million is spent each year on community sponsorships and donations. The Sponsorships and Donation grant program focuses on five main areas of support for local communities: healthcare, education, sports, culture and charity. In 2017, 55 projects were undertaken, including 26 in the Atyrau region and 29 in the Mangystau region. A total of US$17 million has been spent since 1998.