'Unauthorized Spending' Leads To Kazakh Government's Legal Battle With Oil Companies

2023-04-11 09:08:50

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 11. Kazakh government is looking to hit the operators of the Karachaganak and Kashagan oilfields with a number of lawsuits, for alleged unauthorized spending, Almasadam Satkaliyev, Minister of Energy of Kazakhstan, said, trend reports, citing Kazakh media.

The government is looking to receive compensations from this, in the amount of $16.5 billion, he said.

The main partners in operating Kashagan field are Shell, Exxon Mobil, KazMunayGas the national oil company, Eni and TotalEnergies. Partners in operating Karachaganak are Shell and Eni.

The trial is scheduled to take place in Geneva and Stockholm. If the Kazakh government wins, it will receive a large share of the income from the deposits.

Back in March 2023, Kazakh government officials confirmed filling a $5.1-billion lawsuit against North Caspian Operating Company for the breach of environmental protection standards at the Kashagan oil field.

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