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Watching The World: Eni in Kazakhstan
11/29/2010
Eric WatkinsOil Diplomacy EditorRelations between the government of Kazakhstan and Italy's Eni SPA hit a new low last week after the firm's subsidiary, Agip KCO, was accused of fraud while serving as operator of the Kashagan oil field project."A criminal investigation on fraud allegations is now being conducted," said Adil Abylkasymov, a department chief at Kazakhstan's financial police, referring to $110 million in alleged overcharges by Agip.Agip was initially sole operator of the Kashagan development, but was forced by Kazakh officials to surrender that role due to alleged cost over-runs.North Caspian Operating Co. became the operator of Kashagan in 2009 on behalf of the Kash...
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