Offshore North Caspian Sea Contract Area (Kashagan Oil Field and Others)

Contract area(block) Project status Venture company
Interest owned
Offshore North Caspian Sea In production INPEX North Caspian Sea, Ltd.
(August 6, 1998)
INPEX North Caspian Sea 7.56%
Shell 16.81%
Eni 16.81%
ExxonMobil 16.81%
TOTAL 16.81%
CNPC 8.33%
KMG 16.87%

(As of March 31, 2021)

In September 1998, INPEX acquired an interest in the Offshore North Caspian Sea Contract Area in Kazakhstan’s territorial waters. The Kashagan Oil Field is located within this area in the Caspian Sea where the water reaches depths of 3-4 meters, approximately 75 kilometers southeast of Atyrau, Kazakhstan. Following the drilling of the first exploratory well in September 1999, the Kashagan Oil Field was discovered in 2000 and commercial quantities of oil were confirmed in 2002. After development work, the shipment of crude oil commenced in October 2016. INPEX and its partners have achieved the project’s initial production volume target of 370,000 barrels per day and are currently working to increase the daily production volume to 450,000 barrels.

Meanwhile, the presence of hydrocarbons has been confirmed in the Kalamkas, Aktote and Kairan structures, which are located adjacent to the Kashagan Oil Field. Appraisal of these three structures is being conducted in parallel with the development of the Kashagan Oil Field, with a view to expanding the total production of the contract area.

Offshore facility

ACG Oil Fields

Contract area (block) Project status
(production on the basis of all fields and average rate of fiscal year ended December 31, 2020)
Venture company
Interest owned
ACG In production
(Crude oil: 477 Mbbld)
INPEX Southwest Caspian Sea,
Ltd. (January 29, 1999)
INPEX Southwest Caspian Sea 9.31%
BP* 30.37%
MOL 9.57%
SOCAR 25.00%
Equinor 7.27%
ExxonMobil 6.79%
TPAO 5.73%
Itochu 3.65%
ONGC 2.31%

(As of March 31, 2021)

INPEX acquired an interest in the Azeri-Chirag-Deepwater Gunashli (ACG) oil fields in the south Caspian Sea offshore Azerbaijan in April 2003. At the ACG oil fields, oil is being produced at the Chirag, the Central Azeri, the West Azeri, the East Azeri, the Deepwater Gunashli and the West Chirag locations. In September 2017, INPEX and its partners agreed with the State Oil Company of the Azerbaijan Republic (SOCAR) to extend the duration of the production sharing agreement (PSA) for the ACG oil fields by 25 years until December 31, 2049. The revised PSA came into effect in January 2018.

In April 2019, INPEX and its partners made the final investment decision (FID) on the further development of the Azeri-Chirag-Deepwater Gunashli (ACG) oil fields through the commissioning and deployment of a new production platform. The new platform is expected to commence production in 2023 with the aim of expanding the volume of proved reserves and enhancing the project’s value.

Offshore production facilities

BTC Pipeline Project

Contract area (block) Venture company
Interest owned
BTC Pipeline Project INPEX BTC Pipeline, Ltd.
(October 16, 2002)
INPEX BTC Pipeline 2.5%
BP* 30.1%
Azerbaijan (BTC) Limited 25%
MOL 8.9%
Equinor 8.71%
TPAO 6.53%
Eni 5%
Itochu 3.4%
ExxonMobil 2.5%
ONGC 2.36%

(As of March 31, 2021)

The 1,770-km BTC pipeline stretches from Baku in Azerbaijan on the coast of the Caspian Sea to Ceyhan in Turkey. Full-scale operation commenced in June 2006. Total transportation capacity stands at 1.2 million barrels per day, mainly for crude oil produced in the ACG Oil Fields in Azerbaijan.

Shipping terminal