AR branch of “Karabakh Operating Company” (KOC) was registered in Azerbaijan on the 13 May 2019. KOC is an operator of the Karabakh project on behalf of SOCAR Karabakh LLC and was created for the purpose of managing the field development activities. The company currently operates the engineering and construction phases of the Karabakh offshore platform and subsea pipelines.SOCAR Karabakh and Equinor signed a risk-service agreement (RSA) on joint development of the Karabakh field in the Azerbaijani sector of the Caspian Sea on 30 May 2018.The Karabakh oil and gas field, discovered in 2000, is located 130 kilometres to the east of Baku. The initial oil and gas reserves of the field are estimated at 20 million tons of oil and 14 billion cubic meters of gas. The sea depth in the area of the field is around 180 meters. The first oil production from the Karabakh field is expected in Q4 2022.