Kashagan oil operator says arbitration blocks Kazakhstan from enforcing fine

Exxonmobil Holdings Corporation
Shell Plc Sponsored ADR

Exxonmobil Holdings Corporation

XOM

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Shell Plc Sponsored ADR

SHEL

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ALMATY, July 16 (Reuters) - The operator of Kazakhstan's Kashagan oilfield said on Thursday that an international arbitration has issued a restraining order prohibiting Kazakhstan from measures to enforce an environmental fine.

Kazakhstan's Justice Ministry said on Tuesday that the operator of the Kashagan oilfield must pay the fine of 2.3 trillion tenge ($4.90 billion) by July 20.

Kashagan's operator, the North Caspian Operating Company (NCOC), is a joint venture of Shell SHEL.L, TotalEnergies TTEF.PA, ExxonMobil XOM.N and China's CNPC, among others.


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