North Absheron Operating Company (NAOC) was an international petroleum consortium based in Baku, Azerbaijan created to explore and develop the Dan Ulduzu and Ashrafi prospects in the Azerbaijani sector of the Caspian Sea.
The consortium consisted of operator Amoco (acquired by BP) (30%) and partners SOCAR (20%), Itochu (20%), Unocal (25.5%), Delta Oil Company (4.5%).
[1] Although the estimated investment foreseen for the project was $2 billion, over the period of exploration operations the company spent only a total of $64.5 million.
The consortium paid for construction of housing for 100 Azerbaijani families that became refugees and IDPs displaced from their homes during the first Nagorno-Karabakh War.
Construction of five community centers for refugees were also funded by NAOC through Relief International.