North Caspian Operating Company N.V. (NCOC N.V.)

On October 29, 2014, a significant milestone was achieved in moving towards a single company - successful completion of the legal ownership transfer of Agip KCO and NCPOC (Gate 2). This now provides all three companies with the same ownership structure, aligning the corporate governance needed to progressively consolidate into a single joint venture. As part of the ownership transfer, Agip KCO changed its name to North Caspian Operating Company N.V. In 2015, NCOC B.V., NCOC N.V. and NCPOC B.V. will merge into one company (Gate 3). Coincident with these changes, S.de Mahieu is now the new MD of all three legal entities