Victoria Oil & Gas sues Kazakhstan for $ millions over terminated oil exploration contract.

British oil company Victoria Oil & Gas has filed a multimillion-dollar lawsuit against Kazakhstan, claiming the government wrongfully terminated a contract for oil exploration in the Kemerkol field in 2008. The company, which acquired the field in 2005 and estimated its reserves at 15 million tons of oil, is seeking compensation through the International Centre for Settlement of Investment Disputes. The reasons for the contract's termination remain undisclosed.