<h1>The Arbitration Court of Kazakhstan rejected the 12 billion dollar claim</h1>

The Hague International Court of Arbitration has found the Kazakh government's $12 billion claim against Western oil corporations to be invalid and dismissed the claim. One.uz reports this.

Bloomberg reported this based on its sources. The court's decision directly concerns multi-billion dollar financial disputes regarding the Kashagan oil project, considered one of the country's largest fields.

Dismissal based on time factor According to sources from the agency, the majority of the financial claims filed by Astana were found to be overdue in court. Kazakhstan sought reimbursement for oil extraction costs during the 2011–2015 period excessively late.

Specifically, because the claim period had expired, the arbitration court completely invalidated a $12 billion portion of the total nearly $20 billion claim. The struggle is not over yet The financial dispute was not fully resolved by this decision.

Kazakhstan's remaining $8 billion in claims and demands remain in force, and the court proceedings continue. So far, neither the parties nor Kazakhstan's official bodies have issued a full official statement regarding this ruling.

Conflict surrounding the Kashagan project Kazakhstan is seeking to recover nearly $20 billion in disputed costs regarding the Kashagan oil field, the country's second-largest oil reserve. The field is operated by the NCOC consortium, which includes "KazMunayGas" and global giants—Eni, ExxonMobil, Royal Dutch Shell, Total S.A., CNPC, and Inpex.

The oil field began operations several years behind schedule, and the project budget significantly exceeded expectations. Astana had previously stated that it intended to demand up to $150 billion in damages from international investors due to lost revenues, environmental damage, and corruption-tainted deals.