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1 sources · updated 1d ago

Kazakhstan alleges $10.7B corruption in Kashagan oil project

Kazakhstan has accused major international oil firms of awarding inflated contracts and bribing officials in developing the Kashagan oilfield, according to confidential arbitration documents. The allegations involve $10.7 billion in unjustified cost increases across the North Caspian Project consortium.

Coverage — read at the source

oilprice.com · 1d ago
Kazakhstan Accuses Big Oil of $10.7 Billion Corruption in Kashagan Oil Project ↗
Kazakhstan has alleged in a confidential arbitration case that some of the biggest international oil firms that have developed the giant Kashagan oilfield awarded $10.7 billion worth of contracts with unjustified cost increases or through bribes, the International Consortium of Investigative Journalists (ICIJ) team reported on Friday, citing multiple sources. The Kashagan oilfield was developed by the North Caspian Project consortium of international majors and Kazakhstan's state oil firm KazMun…

Kazakhstan alleges $10.7B corruption in Kashagan oil project · GridDigest