Kazakh Claims Against Kashagan Oil Majors Rise to $160 Billion
- Nation seeks about $10 billion for allegedly corrupt deals
- Project has been mired in delays and cost overruns for decades
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Kazakhstan’s arbitration claims against a group of international oil majors that developed the Kashagan field escalated above $160 billion after the country alleged some deals were tainted by corruption, according to people familiar with the matter.
The government demand adds more than $10 billion in damages to the case, and that number may go even higher, the people said, asking not to be identified because the information isn’t public. The total has ballooned from the amount reported last year.