Kazakhstan Seeks Additional $1 Billion From Shell, Eni Unit
- Government in dispute with Karachaganak partners over revenue
- Companies agreed last year to pay $1.1 billion settlement
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Royal Dutch Shell Plc, Eni SpA and their partners in the Karachaganak oil and gas venture may be required to pay an additional $1 billion to settle a dispute with Kazakhstan over revenue sharing, said people familiar with the matter.
The claim from the Central Asian nation’s government comes on top of last year’s similar-sized settlement from the Karachaganak partners. Kazakhstan has a history of disputes with international investors over revenue, taxes and cost-sharing at its energy projects.