The long-standing dispute between Kazakhstan and Stati has been resolved.

The government, the National Bank of the Republic of Kazakhstan, and the parties to the Statute have successfully concluded the long-standing dispute regarding oil and gas assets in Kazakhstan, according to IA "NewTimes.kz," citing the Ministry of Justice.

The signed Agreement on Final Settlement serves as the basis for terminating all ongoing disputes without the right to renew them in the future. The specific terms of the Agreement are confidential.

“This settlement and the approach taken by the Republic of Kazakhstan to seek a fair resolution for all parties highlight that the country is a place where investor rights are upheld. We thank President Kassym-Jomart Tokayev for his leadership in changing the perception of foreign investors regarding Kazakhstan. We look forward to the opportunity to work on new projects in the future,” said Daniel Chapman, CEO of Argentem Creek Partners.

The head of the Ministry of Justice of Kazakhstan, Azamat Eskaraev, noted that with the conclusion of the prolonged dispute, Kazakhstan has additional opportunities for economic development, including through attracting investments. As I mentioned earlier, funds from the republican budget were not utilized in the settlement process.

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Argentem Creek Partners is an investment manager of specific funds that are creditors of Tristan Oil Limited, the investment vehicle of the parties to the Statute.