ASTANA (Reuters) – Kazakhstan’s energy minister confirmed on Tuesday his country’s intention to complete arbitration proceedings launched in April against oil giants he accuses of improperly deducted from their revenues the costs of 16.5 billion dollars (15.4 billion euros) so as not to have to share this sum with the local authorities.
The dispute between the Kazakh government and the oil majors concerns the sharing of revenues from the exploitation of the Kashagan and Karachaganak oil fields.
The largest part of the sum claimed by Kazakhstan (13 billion dollars) relates to costs passed on by Eni, Shell, TotalEnergies, ExxonMobil, KazMunayGas, Inpex and CNPC on the revenues from the exploitation of the Kashagan offshore field.
The exploitation of this deposit, the second in the country, is covered like that of the Karachaganak field by production sharing agreements stipulating that the companies can deduct certain costs from the revenues before sharing them with the government.
Kazakh Energy Minister Almasadam Satkaliyev on Tuesday ruled out settling the dispute over the amount of costs deducted outside the courts, and indicated that the procedure was following its course, with “the appointment of arbitrators” and various consultations. .
(Report by Mariya Gordeyeva, written by Vladimir Soldatkin; Tangi Salaün, edited by Blandine Hénault)
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