Kashagan, an offshore field located at the north of the Caspian Sea, in the Kazakh territory, was discovered in July, 2000. Owned by a group of partners led by Agip, presently Kashagan could prove to be the world’s fifth largest oil field. The field, 75 km SSE of Atyrau, lies in just 3,7 m of water. The field holds an estimated of 7 to 9 billion barrels of recoverable oil resources with a total geological reserve of 38 billion barrels.

NCC - North Caspian Contractors JV, where Tekfen Construction and Installation Co., Inc. and Gama are 50% active shareholder, has undertaken the main on shore construction works of this new offshore development. The works are scheduled to be completed by the second quarter of 2009.