The oil majors operating Kazakhstan’s vast Kashagan field, including Eni, Shell, Exxon Mobil, and TotalEnergies, are nearing a settlement with Kazakh authorities to resolve a dispute over a potential USD 5 bln environmental fine. This draft agreement would halt the government’s pursuit of the environmental penalty and secure a commitment from the companies for extra investment in social projects. This smaller settlement follows a legal win for the companies last year, significantly reducing the originally proposed multibillion-dollar fine.