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. Last Updated: 07/27/2016

Kazakhs Demand $10Bln from Eni

ASTANA, Kazakhstan -- Kazakhstan wants "more than $10 billion" from an Eni-led consortium in compensation for delays in developing the Kashagan oil field, a senior Kazakh government official said Tuesday.

The Central Asian state ordered work to stop at Kashagan on Aug. 27 in a dispute over delays in producing first oil and cost overruns by the Eni-led group, which is developing the field.

Asked how much compensation the government was seeking, Deputy Finance Minister Daulet Yergozhin said, "It will be more than $10 billion."

Speaking a day before a deadline for talks between the two sides was set to expire, he also said Kazakhstan's tax authorities had unanswered questions about the consortium's tax payments and were conducting a planned audit.

"We will let you know about the results later. It will happen by October," Yergozhin said. "At the moment I can say we have questions which we have been unable to get answers for."