News 2015
November 2015Tandai Petroleum
By the decree of the Government of Kazakhstan as of November 2, 2015, №877, the oil fields of Tandai Petroleum company are included into the list of low-profit, high-viscosity, high water content, low production and depleted fields.
This is the second company in Kazakhstan, included in that list, which allowed it to decrease the mineral extraction tax from 5 % to 1.5 %. In June 2014, the first oilfiled was included in the list- it was Karazhanbas, located in Tupkaragan district of Mangistau region.
The mineral extraction tax rate was decreased from 9-10% to 0,5% in this case. Karazhanbas field is being developed by Karazhanbasmunai JSC, equally owned by Kazmunaygas Exploration & Production JSC and the Chinese State Corporation CITIC Group. According to the valid Tax Code of the RoK, the mineral extraction tax for the crude oil, including the gas condensate, varies from 5% to 18 % depending on the annual productioon volume.