New amendments to the legal regime for exploration and production of oil and gas in Kazakhstan have been developed by a government working group.
Affecting the Subsoil Use Law, the Code on Administrative Violations and the Environmental Code, the amendments primarily aim, on the one hand, to attract more investments in the industry by liberalizing and simplifying the rules, and, on the other hand, to strengthen responsibility for failures to comply with safety, environmental and industrial requirements for petroleum operations (the “Amendments”).
The working group submitted a set of Amendments to the government on 13 December 2013 for submission as a draft law to the Mazhilis (the lower chamber of the Parliament) for the law-making process.
It is envisaged that the Amendments will be enacted into law in 2014.
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