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Subsurface management news

february 2011

Republic of Kazakhstan Ministry of Oil and Gas terminated 28 subsurface use contracts in 2010.

Suat Mynbaev, head of the Ministry of Oil and Gas of Kazakhstan informed that the office terminated 28 contracts with unfair subsurface users in 2010 at the next ministerial board meeting.

february 2011

The Deputy of Mazhilis Proposed to Renew Payment by the Subsurface Users of Excess Profits Tax in the Republic.

Recently, Askhat Bekenov, the Republic of Kazakhstan Mazhilis Deputy has requested the Prime-Minister to renew a legislative norm concerning of excess profit tax to be paid by the subsurface user.

february 2011

New Rules on Subsurface Use Rights Came into Force in Kazakhstan.

New Rules on Subsurface Use rights were introduced in Kazakhstan according to the Kazakhstan Government Resolution. They became effective on February, 1st, following 10 calendar days after official mass-media publication according to statutory procedure.

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