Kazakhstan is seeking more than $150 billion in compensation from the oil majors working on giant projects in the country.
Kazakhstan is seeking more than $150 billion in compensation from the oil majors developing its huge Kashagan oilfield, after adding a $138 billion claim for lost revenue to a previous claim of $15 billion over costs, anonymous sources with knowledge of the matter told Bloomberg on Wednesday. Kazakhstan already claims that it is owed as much as $16.
, which includes Kazakhstan’s state firm KazMunayGas, as well as Eni, ExxonMobil, Shell, TotalEnergies, China National Petroleum Corporation CNPC, and Inpex. So far, the consortium has invested around $55 billion in the project. is currently involved in several disputes regarding the application of certain provisions of the Kashagan production-sharing agreement that are subject to arbitration, the consortium told Bloomberg in a statement, declining to comment further. By Tsvetana Paraskova for Oilprice.com
Compensation Crude Oil Oilfields Claims Karachaganak Kashagan
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