The Ministry of Energy of the Republic of Kazakhstan made amendments to the model contracts? Which come into force from April 7, 2024:

  • for exploration and production of hydrocarbons;
  • for production of hydrocarbons;
  • uranium mining;
  • for exploration and production of hydrocarbons under complex projects;
  • for the production of hydrocarbons under complex projects.

In particular, subsoil users extracting hydrocarbons from a depleting field were obliged to fulfill an investment obligation to develop such a depleting field and (or) additional financing for the socio-economic development of the region.

In a number of contracts subsoil users were obliged to develop and agree with the competent authority a program for the replacement of foreign personnel with Kazakhstani personnel.

The amendments also touched upon the liability of subsoil users for non-fulfillment or improper fulfillment of their obligations.

Kazakhstan