Shell and Eni settle revenue sharing dispute in Kazakhstan
Companies and partners push ahead with expansion after paying the government $1.3bn
14 December 2020 - 16:56
Almaty — Royal Dutch Shell, Eni and their partners in the Karachaganak oil and gas venture paid $1.3bn to settle a long-running dispute with Kazakhstan over revenue sharing.
The deal unlocks plans to boost output from the Karachaganak field and funnels additional revenue to the Kazakh economy, which is heading for its first annual contraction in more than two decades amid oil’s slump. While the government is getting less cash than it demanded in 2019, it is a larger payment than initially agreed in 2018...
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