Without restrictions and penalties: Kazakh subsoil users will be endowed with new rights

13/09/2023

Image source: pixelied.com / pixabay.com

In a recent development reported by Orda.kz, it has been announced that a bill has been adopted in the Majilis on September 13th, granting subsoil users in Kazakhstan the right to refuse unproductive drilling of wells without facing any penalty sanctions. This provision is part of the draft law "On Amendments and Additions to the Code of the Republic of Kazakhstan on Subsoil and Subsoil Use," which aims to enhance the field of subsoil use and increase the investment attractiveness of projects in geological exploration and hydrocarbon extraction. One of the key innovations of this bill is the empowerment of subsoil users to decline unproductive drilling based on the results of seismic surveys, without facing any penalties imposed by the state. Additionally, the bill introduces an expedited transition to geological exploration work, incorporating a notification procedure for project development and streamlining administrative procedures for subsoil operations, including state examinat

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Source and Credit: orda.kz

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