The news source noted that the oil export duty will not be applied to companies already developing Kazakhstan’s oil fields but will apply to any new entrant.
The duty is reportedly based on the average first quarter 2008 global oil price of $714.90 per metric tonne or $94 per barrel.
The Kazakhstani government has assured Chevron, Eni and BG, among other Western operators of the Karachaganak and Tengiz fields, that they will not be liable for the duty.
The duty will be levied on approximately 27 million tonnes of oil exports, roughly 40% of Kazakhstan’s production volume in 2007, according to Reuters.
