Matrix Contract With Agip KCO Extended

Monday, May 23, 2011

Due to the success of works already completed, Matrix’s contract with Agip KCO Operations to develop the Electronic HSE Case has been extended to include all remaining safety cases for the Kashagan Field Development.

Work is due to be completed by February 2012. Matrix are pleased with progress achieved so far and look forward to successfully delivering a comprehensive Matrix family of products to Agip KCO. These include MAT-HazTM, the major accidents hazards management and tracking system, MAT-TrackTM, MAT-SysTM the HSE Management System and MAT-NavTM that provides the framework for the Electronic HSE Case.

Agip KCO N.V. is an Eni S.p.A. subsidiary that performs operations under the North Caspian Sea Production Sharing Agreement (PSA) dated as of 1997 under an agency agreement with North Caspian Operating Company B.V. Agip KCO N.V. is responsible for the execution of Phase I (experimental program) of Kashagan offshore oil field development including achieving first commercial production, complying with the strictest international standards for safety and environmental responsibility. In addition, Agip KCO N.V. is responsible for the project execution for the onshore facilities of Phase II of the Kashagan development.

The Kashagan field is the largest oilfield discovered in the North Caspian Sea PSA contract area. It is considered to be the most important oil discovery worldwide since the Prudhoe Bay in Alaska’s North Slope in 1968.

Kashagan extends over a surface of approximately 75 x 45 km and is named after a 19th century Kazakh poet from Aktau. Kashagan’s development represents a complex combination of coordinated offshore and onshore activities, including survey, construction and commissioning, drilling logistics, development and production.