VOL. XLVI

No 21

26-May-2003

CASPIAN

Kazakstan Withdraws Tax Break To Kashagan Partners After Pre-Emption Of BG Shares To China

In what is seen as a deliberate swipe at the partners in the North Sea Caspian production-sharing agreement (PSA), which is developing the offshore Kashagan oilfield, the Kazak Government has withdrawn two tax exempt certificates that were issued to the consortium in 1999 and 2000 respectively. This measure, which could wind up costing the partners millions in back taxes,...