Middle East Economic Survey

VOL. LIV

No 40

3-Oct-2011

CASPIAN

Tengizchevroil Pays $11.5Mn Environmental Fine

The Office of Kazakhstans Prosecutor General announced on 23 September that the Chevron-led Tengizchevroil (TCO) consortium, which is developing Tengiz oil field, has paid a fine of KZT1.7bn ($11.5mn) for environmental violations due to unauthorized gas flaring. Such fines are a feature of Kazakh oil field projects, with TCO having an earlier dispute with the authorities over sulfur...