Operator of Kashagan is fined over $700 million

Ecological penalties, which exceed $700 million, were imposed on operator of Kashagan – NCOC, the Minister of Oil and Gas of Kazakhstan Uzakbai Karabalin reported.

“As for Kashagan, you know that Ministry of Environmental Conservation reclaimed to them and brought a case on imposition of ecological penalties to the amount of over $700 million. This is under discussion now. The contractors of the company oppose this amount and find it too high. In the future, the court is likely to consider arguments of the parties with participation of international consultants,” - Uzakbai Karabalin said.