IOCs Stand Ground Amid Kazakh Complaints

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  • Kazakhstan is seeking $16.5 billion in damages in the European arbitration courts from the operating consortia for two of the country's largest fields — Kashagan and Karachaganak.
  • The wrangling clouds efforts by the Kashagan partners to recoup their investment after shelling out more than $60 billion in capex; Karachaganak has proved a much more profitable venture.
  • International oil companies (IOCs) may sense the Kazakhs aren't in as strong a position to deploy "resource nationalism" tactics as they were a decade ago.

The Issue

Policy and Regulation, Corporate Strategy , Offshore Oil and Gas, Conventional Oil and Gas
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