By OGJ editors
HOUSTON, Apr. 10 -- Kazakhstan's Supreme Court reduced a lower court's fine against Tengizchevroil (TCO) to $7 million from $70 million for ecological damages the joint venture caused by storing millions of tons of sulfur on Tengiz field.
The joint venture, led by ChevronTexaco Corp., appealed the ruling by Kazakhstan's Atyrau Oblast Court. Supreme Court Judge Sansyzbek Raimbayev said last month that the earlier court decision was null and void, Reuters News Wire reported.
Earlier this year, ChevronTexaco confirmed that TCO partners resolved a dispute about funding arrangements, enabling TCO to move forward with expansion plans for second-generation production and sour gas injection projects (OGJ, Feb. 10, 2003, p. 7).