Kazakh Government and Statis sign agreement on settlement of dispute

The Government of the Republic of Kazakhstan, the National Bank of the Republic of Kazakhstan and the Statis Parties, with the support and consent of leading creditors of Tristan Oil Limited, have successfully completed the settlement process of dispute over oil and gas assets in Kazakhstan which had lasted for years, El.kz reports.

The specific terms of the Agreement are confidential.

"The settlement of this dispute demonstrates Kazakhstan’s compliance with international treaty obligations, which opens the door to increased investment. We look forward to working on new projects in the future”, Daniel Chapman, founder, CEO & CIO of Argentem Creek Partners.

"With the end of the long-term dispute, Kazakhstan has additional opportunities for economic development, including by attracting investment. At the same time, as I noted earlier, funds from the republican budget were not used as part of the settlement”, Minister of Justice Azamat Yeskarayev said.