Karachaganak players hit with $21m fine

AGIP KAZAK F807

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By News Wires

 26 February 2010 10:21 GMT

A Kazakh court slapped a $21 million environmental fine on a group of companies led by BG and Eni which are developing the Karachaganak gas condensate field, an asset eyed by the government, prosecutors said today.



Kazakhstan and the operators of Karachaganak have been in talks since last year after the companies accused the government of levying extra duties on them.

Karachaganak is Kazakhstan's main gas producer and holds large gas condensate reserves.

Kazakh state energy company KazMunaiGas said this month it was interested in acquiring a stake in Karachaganak, the only large upstream project in the central Asian state in which it is not involved.

The prosecutor general's office said today a regional court in western Kazakhstan had fined the Karachaganak venture for environmental violations such as…

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