Deputy Minister of Energy Makhambet Dosmukhambetov spoke about how the legislation "On Subsoil and Subsoil Use" of the Republic of Kazakhstan will change.

Today at a round table on conceptual issues of the draft Code "On Subsoil and Subsoil Use", he spoke about the new legislation in this field.

“Concerning the simplification of mineral rights, the Code stipulates that the right of subsoil use is granted by auction. A requirement is introduced for the solvency and experience of a potential subsoil user. The requirements for the confirmation of experience relate to operations on the shelf of the Caspian Sea and inland waters. It is compulsory to conduct an auction in the case of a request from an interested investor, auction procedures will be simplified. That is, if there is any application from a concerned investor, the government agency will be obliged to put out this site to tender,” – Makhambet Dosmukhambetov explained.

In addition, according to the Deputy Minister, two types of contracts are envisaged: exploration and production, and production contracts.

“As you know, in accordance with the current legislation, there is a contract for exploration and a separate production contract, and only in exceptional cases, on Government ruling, a contract for combined exploration and production is concluded,” – Makhambet Dosmukhambetov added.

KAZINFORM 

Published: 30 June 2017

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