Kazakhstan has filed a lawsuit against the North Caspian Operating Company — the operator of the Kashagan field — to recover 2.3 trillion tenge ($5.1 billion) in the form of a fine for violating environmental safety.
The Ministry of Ecology and Natural Resources of Kazakhstan accuses the “Kashagan” operator of storing more than twice as much sulfur as allowed at the field, Bloomberg reports.
The project participants are Shell, ExxonMobil, Eni SpA, TotalEnergies SE, CNPC and Inpex Corp., as well as “Kazmunaygas”. The companies’ investments in the project exceed $50 billion.
The “Kashagan” field is considered one of the largest oil fields discovered in the last 50 years. Its recoverable reserves are estimated to be between 9 and 13 billion barrels of oil. Commercial production at “Kashagan” began in the fall of 2016.
The shareholders of the NCOC consortium 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%).
Caspian Barrel
