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. Last Updated: 07/27/2016

Kazakhs Pledge Not to Review Kashagan

ASTANA, Kazakhstan -- Kazakhstan's president pledged on Monday not to review a major oil development contract with an international consortium led by Italy's Eni amid a dispute sparked by production delays.

"We are not talking about revising the contract that we signed [with the consortium] 10 years ago," President Nursultan Nazarbayev said. He warned that the government would take measures in line with the national law against any foreign investor who "breaks the existing contracts."

"I'm sure that Eni understands the task it faces," Nazarbayev said after talks with Italian Prime Minister Romano Prodi.

Prodi said Eni was ready to accept the Kazakh government's terms and continue cooperation.

"The issue of timing and other terms are up to the Kazakh government," Prodi said through a translator.