Kazakh Energy Minister Almasadam Satkaliyev said that Kazakhstan has filed claims in international arbitration against companies working to develop the Karachaganak and Kashagan oil fields.
“The authorized state body (PSA company) has filed claims in international arbitration against Karachaganak and Kashagan companies. Unfortunately, I cannot comment, the only thing I can say is that these lawsuits are filed in favor of the people of Kazakhstan,” the Kazakh energy minister told reporters on Tuesday.
According to the minister, the talk is about claims of $3.5 billion and $13 billion, explaining that “these are not tax disputes. We are talking about the implementation of the production-sharing agreement.”
On April 5, Bloomberg reported, citing sources, that the Kazakh government had referred the companies operating the country’s two main oil fields, Kashagan and Karachaganak, to arbitration over unauthorized spending.
This article was originally published by RT.
