AKIPRESS.COM - NCOC Chairman and Managing Director Pierre Offan is resigning May 1 of this year, according to Kazakh media.

In October 2008 the Republic of Kazakhstan reached an agreement with the seven companies participating in the Kashagan PSA to form a new joint operating company North Caspian Operating Company B.V. In January 2009 NCOC formally became operator under the PSA, taking over the role that was formerly held by Agip KCO.

Pierre Offan has been holding the post since 2008 and is to be replaced with Stephen Mayo, “a seasoned professional with a vast international experience leading technical development projects for the oil & gas industry”.

Given the risks of further postponement of commercial production at the giant Kashagan oilfield, talks will be held with other oil companies to boost crude production figures, Tengrinews reported citing the country’s Minister of Economic Affairs Yerbolat Dossayev.

Commercial production at Kashagan started September 11, 2013. However, it was suspended twice due to gas leaks.