Kazakhstan's oil and gas minister said the Chevron-led Tengizchevroil venture had produced more crude than agreed and that the owners might need to pay extra into the state budget as a result.
Sauat Mynbayev told reporters that prosecutors were investigating the case. He said he believed that Tengizchevroil had produced "significant volumes" above the level agreed with the government. "We have passed our findings to the prosecutor," Mynbayev said. "In the case that we are proven correct, then there will be additional payments to the budget," he said.
Apart from Chevron, Tengizchevroil shareholders are Exxon Mobil, Russia's LUKOIL and Kazakh state energy firm KazMunaiGas [KMG.UL].
