Mr. Stephane de Mahieu is stepping down from the Managing Director role at NCOC NV

Mr. Stephane de Mahieu is stepping down from the Managing Director role at NCOC NV after working for the Kashagan project since 1 May 2014.

During his successful tenure as MD of NCOC, Mr. de Mahieu has driven and overseen the reorganization of the North Caspian Project’s operating model, resulting in the establishment of NCOC N.V. as the single consolidated Operator in June 2015. He has also been instrumental in launching the pipeline rehabilitation and the Finish, Improve, Maintain, Prepare and Restart projects, aimed at ensuring that the Venture’s offshore and onshore facilities will be ready to resume production as soon as the pipelines rehabilitation project has been completed. The Contracting Companies are of the view that the Kashagan Project is firmly on track and will make a significant additional contribution to the Kazakhstan economy.

He is to be replaced by Mr. Bruno Jardin, currently ExxonMobil Kazakhstan Joint Interest and Lead Country Manager, as NCOC Managing Director in the coming weeks. Mr. Jardin has extensive international senior management experience with more than 30 years of managing major petroleum operations for ExxonMobil, and comes with the unanimous support of our shareholders.