Potential Amendments to the Kazakhstan Legal Regime for Exploration and Production of Oil and Gas

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.

Please see full alert below for more information.

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Topics:  Energy Exploration, Natural Resources, Oil & Gas

Published In: Energy & Utilities Updates, Finance & Banking Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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