Kazakhstan court fined “Caspian Oil” $28.8 million for waste storage

A court in Kazakhstan has fined “Caspian Oil” JSC 13.7 billion tenge (over $28.8 million) for violating hazardous waste regulations, reports Kazinform News Agency correspondent, citing the Atyrau Regional Prosecutor’s Office.

The supervisory authority found that the oil company had not obtained permission to accumulate more than 4,500 tons of hazardous waste generated during the 2021-2022 drilling and field operations.

Therefore, the prosecutor’s office submitted a report to the court indicating a violation of Article 328 of the Code of Administrative Offenses of Kazakhstan (“Violation of permissible anthropogenic impact on the environment”).

The collected 13,684,868,730 tenge went to the National Fund of the state. 100% of the shares of “Caspian Oil” JSC are owned by “Joint Resources”, whose owner is Kazakhstani oligarch Timur Kulibayev.