Kazakhstan seeks $5.1 bln fine from Kashagan oil field - Bloomberg News

Kazakhstan has filed a claim against the Kashagan oil venture for about 2.3 trillion tenge ($5.14 billion) in environmental protection fines, Bloomberg News reported on Wednesday, citing the country's Ecology and Natural Resources Ministry. The ministry has accused the North Caspian Operating Company (NCOC) which runs Kashagan, of keeping more than double the amount of sulfur permitted on the site, the report said.

Kazakhstan has filed a claim against the Kashagan oil venture for about 2.3 trillion tenge ($5.14 billion) in environmental protection fines, Bloomberg News reported on Wednesday, citing the country's Ecology and Natural Resources Ministry.

The ministry has accused the North Caspian Operating Company (NCOC) which runs Kashagan, of keeping more than double the amount of sulfur permitted on the site, the report said. The ministry declined to provide the size of the possible fines when asked by Reuters, but confirmed it suspected the company of breaches of environmental regulations following inspections.

The NCOC did not immediately respond to a Reuters' emailed request for comment. Kashagan, which is one of Kazakhstan's biggest oilfields, halved its output last year for about two months due to a gas leak. The field has now fully restored production.

Some of the Central Asian nation's biggest oilfields stopped for planned maintenance last year. ($1 = 447.4800 tenge)