Loss of National Fund will be insignificant following production suspension at Kashagan- MEBP

Date: 09:36, 04-05-2014.

Almaty. May 4. KazTAG - The loss of the National Fund in connection with production suspension at Kashagan will be insignificant and  will be compensated in the following years, reports the Ministry of Economy and Budget Planning.

"The Production Share Agreement on the Kashagan project stipulates 10% pay from commercial oil, signature bonus and additional monetary payment in the form of priority payment".

"These payments will be transferred to the National Fund. No corporate tax is stipulated due to cost of the project," reads the message.

As reported, oil production, according to Yerbolat Dosayev, Minister of Economy and Budget Planning, is expected at the end of 2014-2015.

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