ASTANA, Dec 15 (Reuters) - Kazakhstan’s energy minister, Yerlan Akkenzhenov, said on Monday that a ruling in the arbitration case involving an international consortium developing the Karachaganak oil and gas condensate field is expected before year-end.
The Central Asian country in 2023 launched claims against the developers of its Kashagan and Karachaganak oilfields over $13 billion and $3.5 billion, respectively, in disputed costs.
The ruling expected this month is on the field operated by the Karachaganak Petroleum Operating consortium, which includes Eni (ENI.MI) (29.25%), Shell (SHEL.L) (29.25%), Chevron (CVX.N) (18%), Lukoil (LKOH.MM) (13.5%) and KazMunayGaz (KMGZ.KZ) (10%).

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Kazakhstan's energy minister announced that an arbitration ruling concerning the Karachaganak oil and gas field, operated by an international consortium, is expected by year-end. The country has launched claims against developers over disputed costs totaling $16.5 billion for Kashagan and Karachaganak fields. The consortium includes Eni, Shell, Chevron, Lukoil, and KazMunayGaz.

Kazakhstan sees arbitration ruling on Karachaganak before year-end