NCOC, the Operator of the North Caspian project (NCP), advises on its decision to initiate pay review of the national employees of NCOC contractors and sub-contractors engaged in NCOC operations.

It should be noted that the wages of employees of contractors and sub-contractors are set by the management of such organizations. NCOC has requested the management of contractors to increase the wages of work personnel except senior management by 60,000 tenge net per month. The amount of this increase, including tax payments and mandatory contributions, will be reimbursed by the Operator.

The flat increase will come into effect from 1st February 2022 retrospectively.

NCOC management and NCP shareholders believe that such a flat increase for all workers independent of salary levels is a fair approach which treats all beneficiaries equally.

Following the best international practices in the area of corporate social responsibility and preserving workers’ rights to fair pay, NCOC management and NCP shareholders made this decision as goodwill and sign of support in the effort to improve workers’ welfare, maintain social stability and extend Company’s care towards all people working on the Project.

Safety and well-being of personnel is a top priority for NCOC and NCP shareholders. The Company will continue working with the Government of the Republic of Kazakhstan, NCP shareholders and local authorities on the issues relating to social support, training and professional development of Kazakhstani citizens involved in the world class project and further opportunities for local businesses.

It is worth noting that there are more than 7 thousand national contractor and sub-contractor employees currently working on the North Caspian Project.

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