The extraordinary elections to the Parliament’s lower chamber – the Majilis – were held in Kazakhstan. One of the main mistakes of many experts estimating their course and results is that they have too focused on the pre-election race’s participants.
Because of its vast energy resources and geographical location, at the crossroads of east and west, the Caspian region has played and will continue to play an important role in global energy markets. The U.S. policy on Eurasian energy has three basic goals.
At the accounting board in Astana, the Ministry of Oil and Gas of the RK has summarized the results of Kazakhstan’s oil and gas sector development. The industry’s priorities are projects in the field of petrochemistry and providing gas to the country’s capital.
The oil industry
The volume of oil production in Kazakhstan reached 80.06 million tons in 2011. Although it exceeds by 0.5% the 2010 figures, the planned targets have not been fulfilled. “Unfortunately, for known reasons, a number of enterprises have reduced their production, in particular, Ozenmunaigas, by over 19 % compared with the plans,” stated the Minister of Oil and Gas of the RКSauat Mynbayev. “
On December 14, 2011, in Astana, in the presence of the Prime Minister of the Republic of Kazakhstan Karim Massimov, the ceremony was held of signing the Agreement on the Settlement of Disputes between the government of the RK and the consortium Karachaganak Petroleum Operating B.V. (KPO). The share of Kazakhstan in the Karachaganak project has reached 10 %.
The Zone of Inviolability
The position of Ak Orda is unambiguous, and it is legally reflected in the new legislation of the RK on subsoil use: it is not envisaged the conclusion of new PSAs in Kazakhstan
Our commitment to technology provides a competetive advantage in exploration , project development, oil and gas recovery, and production operation.
Using our integrated technologies, we have achieved advances in deepwater, arctic, heavy oil, and most recently, liquefield natural gas development, enabling us to unlock resourse potential previously considered uneconomic.
Karachaganak Petroleum Operating B.V. (KPO)gives great attention to preservation of the environment. In late 2011 it has successfully completed the re-certification audit of company’s Occupational Health and Safety Management System and Environmental Management System against the international standards OHSAS 18001 and ISO 14001.
The President of the Republic of Kazakhstan signed the Law of the Republic of Kazakhstan "On Gas Supply and Gas" (hereinafter - the "New Law", "Gas Law" or the "Law"), the main provisions of which are discussed in this article. The following describes what we believe to be the most important specialties and provisions of the Law.
Gas Law is a novelty for legislation of the Republic of Kazakhstan. Previously gas and the gas supply sphere were partially regulated by the subsoil use legislation and a number of the GovernmentResolutions. The Law aims to address the relations in the gas and gas supply sphere and as a general principle seeks to prioritise the internal market provision of commercial (under the Law, a mixture of hydrocarbons with a predominance of methane) and liquefied petroleum gas (under the Law, a mixture of propane and butane) produced in the RK.