Economic Benefits to Kazakhstan
NCOC believes that activities performed under the NCSPSA offer a significant opportunity to develop the Kazakhstan economy in a sustainable manner.
First and foremost, we believe this can be achieved by managing our own business safely, responsibly, efficiently and transparently, in compliance with all applicable laws and regulations of the Republic of Kazakhstan.
The Kashagan project marked the start of the offshore oil development in Kazakhstan. When the decision was made to implement this highly challenging project; support bases, infrastructure, construction equipment, marine vessels and drilling rigs needed for the development of the project did not exist in the Caspian region.
Substantial investments into the development of local suppliers, workforce and infrastructure have resulted in the establishment and growth of various industries in Kazakhstan.
Social and Infrastructure Projects
Under the North Caspian Sea PSA, NCOC allocates a budget each year for the development of social infrastructure projects. In 2018, 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 2018, 200 social infrastructure projects were completed. The cumulative spend on social infrastructure projects has thus reached almost US$620 million.
NCOC Social and Infrastructure Projects brochure
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 2018, 64 projects were undertaken, including 34 in the Atyrau region and 30 in the Mangystau region. A total of US$19 million has been spent since 1998.