Publications
20.06.2011
Maidan Suleimenov |
Subsoil Use and Energy
The Republic of Kazakhstan is one of the ten largest states in the world and is richly endowed with energy and mineral resources. Some 1200 different types of mineral raw materials have been found here. In terms of uranium, manganese, tungsten, gold, phosphorites and iron resources, Kazakhstan is ranked among the top ten countries worldwide, and occupies first place in uranium and lead, second place in zinc and chromium ores, fourth place in copper, and seventh in gold. The most prominent role in the Republic's resource base, however, is played by energy resources, primarily oil and gas. Hitherto, energy has been one of the few basic commodity sectors in which Kazakhstan retains an effective trading capability, and the interest of foreign investors in Kazakhstan is focused largely on lucrative investment opportunities in oil and gas field development...
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06.04.2011
Maidan Suleimenov |
Subsoil Use and Energy
The main legislative acts in the sphere of subsoil use are the Law of the Republic of Kazakhstan "On Petroleum" dated 25 June 1995 (hereinafter referred to as the Law on Petroleum) and the Law "Оn Subsoil and Subsoil Use" dated 25 January 1996 (hereinafter referred to as the Law on Subsoil). In the beginning these laws established the granting of subsoil use rights on the basis of license-contract system. The Government issued a license (an authorized body of the Government was the Ministry of Geology of the Republic of Kazakhstan), then a competent body (the Ministry of Energy Sector and Natural Resources of the Republic of Kazakhstan) on the ground of the license concluded a contract on subject use. This was a mixed system, and for a while it effectively worked. But in due course, the lacks of this system, which were mainly consisted in extreme bureaucracy in the procedure of granting the subsoil use right, came out.
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