Since January 1 the Treaty on the Eurasian Economic Union (EEU) signed by Russia, Belarus and Kazakhstan has entered into force. Four key economic freedoms have begun operating on the territory of the Union: freedom of movement of goods, services, capital and work force.
Thirty ninelow-profitable oil and gas companies of Kazakhstan will soon get tax preferences from the government.
Let’s remind that on August 20 the National Bank of Kazakhstan has introduced a floating exchange rate of the tenge which resulted in the fall in the value of the national currency by 35%. Later, at the briefing at Central Communications Service of the RK the First Deputy Prime Minister Bakytzhan Sagintayev informed that till October 1 the total tax burden for low-profitable oil companies will be reduced. “In cooperation with KazEnergy Association we conducted in-depth analysis of all 57 oil and gas companies.
Economic empowerment and support to developing small and medium size business are important elements of Chevron's social investments in Kazakhstan. Chevron helps to build individual financial strength and turn its vision into sustainable businesses.
The Government of the Republic of Kazakhstan and Tengizchevroil (TCO) have common goals, one of which is to increase the availability of Kazakhstani services and goods. A key strategy for TCO is to increase Kazakhstani content by working with current and potential suppliers to help them understand the international quality and safety standards they must meet in order to do business with Tengizchevroil. The continued development of a Kazakhstani market of goods and services that meets high international standards is a cornerstone of the company’s sustainable development strategy – and creates significant benefit for Kazakhstan.
The brand FIDMASH is well known to everyone who deals with high-tech oil and gas service. For more than two decades, the high-performance equipment of his brand is operated at the oilfields, located in all the rich hydrocarbon regions, not only in Russia and CIS, but also far beyond-almost everywhere, where oil and gas are being produced.
Advanced Pumping Equipment Manufactured by JSC Sumy Plant Nasosenergomash for Transportation of Oil and Oil Products - Pumps NPS-M
Public Joint Stock Company Sumy Pumping and Power Engineering Plant Nasosenergomash is a member of the vertically integrated international holding OJSC GMS Group (Russian Federation) since 2004.
JSC Sumy plant Nasosenergomash is one of the largest companies of GMS Group, it has more than 65 years of experience in the production of oil pumps for various needs of the oil industry (export pumps, booster pumps, tank farm pumps, leaks pump-out pumps).
The time has come when Kazakh businesses now have to think seriously about their competitive advantages compared with foreign companies. The EEU and the WTO dictate their rules, and soon local suppliers of large oil and gas projects will no longer be able to benefit from special terms. They will have to compete for real.
Nabil Ben Soussia, the Regional Director of IEC Telecom in Kazakhstan,answered the questions of Petroleum
Do you think that there is a crisis in the oil & Gas market, especially in Kazakhstan?
A: The reality facing oil and gas industries has changed dramatically over the last year. The industry is facing oversupply and lower prices – so it’s not surprising that nearly two-thirds of oil and gas CEOs say their companies are facing more threats to growth than they did three years ago.
Failures at Kashagan make the official Astana boost other exploration projects in Kazakhstan’s sector of the Caspian Sea
The national company KazMunayGas spent twelve years (!) to obtain the rights to develop the Issatay area at the Caspian offshore, that finally allowed to establish a JV (joint venture) to develop this promising sector. It is not a joke: Back in 2003 KMG filed an application to the competent authority for direct negotiations and for obtaining the subsoil use rights with enclosure of “Preliminary program of exploration and evaluation of Issatay area”.
Nine people per place
The slump in world oil prices has significantly changed the industry landscape. Now not only the producing and oil service companies are tightening their belts, but people as well. According to the statistics of recruiting agencies, 9% fewer jobs in hydrocarbon production were posted in the open market than in the past. Layoffs are underway; as a result, many experts have to change their field of activity. Those remaining in the oil industry face the increased employer’s requirements.
Continuation. Beginning in the #4-2015
Principles of subsoil use – an effective instrument or declaration? The Concept developers believe that the principles of subsoil legislation secured in the Subsoil Law need to be adjusted by filling them with the new content and adding new principles, previously unknown to the subsoil legislation.