The Government of the Republic of Kazakstan, the National Bank of the Republic of Kazakhstan, and the Stati parties, with the support and approval of leading Tristan Oil creditors, have successfully completed the process of resolving a long running dispute over oil and gas assets in Kazakhstan.
The signed Agreement on final settlement shall be the basis for the termination of all ongoing disputes without the right to reopen them in the future. The specific terms of the Agreements are confidential.
Daniel Chapman, CEO of Argentem Creek Partners*:
«This settlement and the approach taken by the Republic of Kazakhstan to find a fair resolution for all parties underscores that the country is a place where investor rights are respected. We thank President Kassym-Jomart Tokayev for his leadership in transforming the way foreign investors see Kazakhstan. We look forward to working on new projects in the future»
*Argentem Creek Partners is an investment manager to certain funds which are creditors of Tristan Oil Limited, the investment vehicle of the Stati parties.
Azamat Yeskarayev, Minister of Justice of the Republic of Kazakhstan:
«With the end of the long dispute, Kazakhstan has additional opportunities to develop its economy, including by attracting investment. At the same time, as I noted earlier, funds from the republican budget were not used as part of the settlement.»