GRATA Law Firm - Caspian Corridor Conference 2014

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Presentation by Yerbolat Yerkebulanov at the 2014 Caspian Corridor Conference held at the London Stock Exchange.

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GRATA Law Firm - Caspian Corridor Conference 2014

  1. 1. Key Draft Amendments to Kazakh Subsoil Law Yerbolat Yerkebulanov GRATA Law Firm London, 7 March 2014
  2. 2. Anticipated changes in Subsoil Law (1/2) 1) Waiver of state pre-emptive right will be required for fields of strategic significance only (i.e. for non-strategic assets approval lasts 20 business days instead of 70); 2) Simplification of obtaining exploration right procedures. First came – first received (5 business days). Annual increase of rental. Typical contract. No LC in staff and GWS.
  3. 3. Anticipated changes in Subsoil Law (2/2) 3) Auction for subsoil use right – who proposed the biggest subscription bonus will win (currently – (1) subscription bonus and (2) payments to regional social development); 4) Fixation period for physical volume – 6 months, for financial obligations – 3 months (now – 1 month); 5) Exclusion of economic and ecological expertise for draft subsoil use contracts and feasibility study for draft project documents (i.e. shortening approval time).
  4. 4. Thank you for your attention! If you have any questions, please feel free to contact yyerkebulanov@gratanet.com

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