Hot Stocks

Kazakhs seek $1.2 bln in Karachaganak tax-source

ASTANA, Oct 27 (Reuters) - Kazakhstan has prepared new tax claims worth a total of $1.2 billion against ENI ENI.MI and BG Group's BG.L Karachaganak gas project, a source familiar with the Kazakh Oil and Gas Ministry's position told Reuters.

“The results of (tax) checks for the period of 2005-08 show that a total of $1.2 billion of taxes have not been paid,” the source said on Wednesday, requesting anonymity, adding that the project shareholders and the government had already agreed on a memorandum of understanding but had not signed it yet.

The official also said that Kazakhstan’s tax claims hampered the development of the Karachaganak project.

The Karachaganak Petroleum Operating Group (KPO) could not be immediately reached for comment.

Reporting by Raushan Nurshayeva; Writing by Dmitry Solovyov; Editing by Toni Vorobyova