The court's decision will come into effect on 29 October, which gives Tengizchevroil about two weeks to appeal.
Atyrau's environmental protection department had initially demanded that Tengizchevroil should pay a fine of as much as $620 million.
The department had said that between 2003 and 2006 Tengizchevroil dumped about 2.8 million tonnes of sulphur in the open air on the field.
Kazakh environmentalists have long been calling for the venture to store sulphur in a protected granulated form to prevent it from being carried on the wind into the nearby waters of the Caspian Sea.
