No comment from Kazakh Energy Ministry on alleged increase in claim against Kashagan operator to $150 billionThe Ministry of Energy of Kazakhstan does not comment on information disseminated by the media about the alleged increase in the claim against the Kashagan operator to $150 billion, Shyngys Ilyasov, adviser to the head of the ministry said.“Regarding the published information about the arbitration claim with the NCOC consortium, the Ministry of Energy of Kazakhstan reports the following: according to the terms of the provisions of the PSA for the North Caspian Project, details of arbitration disputes and claims are not subject to disclosure. This is an exclusively commercial dispute that the parties intend to resolve through arbitration procedures,” Ilyasov said to journalists when asked to comment on media publications.Earlier, Bloomberg, citing sources, reported that Kazakhstan had increased its arbitration claims against international oil companies developing the Kashagan oil field to more than $150 billion.According to media reports, the additional claim refers to $138 billion in lost profits and reflects the calculation of the cost of oil production that was promised to the government but was not delivered by field developers.In 2023, the government of Kazakhstan filed $16.5 billion claims against operators developing the country’s largest oil fields - Kashagan and Karachaganak.At the end of March this year, Energy Minister Almasadam Satkaliyev reported that the process of Kazakhstan’s claim against the operators of the country’s largest oil and gas fields - Kashagan and Karachaganak was ongoing “routinely”, and arbitrators had been appointed.The Kashagan field is considered one of the largest oil fields in the world discovered in recent decades. Its recoverable reserves range from 9 billion to 13 billion barrels of oil. Commercial production at Kashagan began in the fall of 2016.The shareholders of the NCOC consortium, the operator of Kashagan, are KMG Kashagan B.V. (16.877%), Shell Kazakhstan Development B.V. (16.807%), Total EP Kazakhstan (16.807%), AgipCaspian Sea B.V. (16.807%), ExxonMobil Kazakhstan Inc. (16.807%), CNPC Kazakhstan B.V. (8.333%) and Inpex NorthCaspian Sea Ltd. (7.563%).The Karachaganak field is one of the largest in the world. Oil reserves amount to 1.2 billion tonens, gas reserves - 1.35 trillion cubic meters. The development of Karachaganak, according to the PSA signed in 1997 for 40 years, is carried out by the international consortium KPO consisting of Shell (29.25%) (through a 100% affiliated company BG Karachaganak Limited), Eni (29.25%), Chevron (18%), NK "LUKOIL" (13.5%), "KazMunayGas" (10%). (ICE ALMATY)

Fonte notizia: INTERFAX