Lifting of moratorium on new field development in Kazakhstan not to affect offshore areas
Kazakhstan, Astana, Feb. 4 / Trend, D. Mukhtarov /
The lifting of the moratorium on developing new hydrocarbon deposits in Kazakhstan will affect onshore fields, rather than Caspian Sea based operations, Kazakh Oil and Gas Minister Sauat Mynbayev said at a press conference in Astana today.
"If it is decided to abolish the moratorium, it can be canceled for onshore territories, areas that are not in the Caspian or Aral seas," Mynbayev said.
Mynbayev said that tenders for issuing licenses to develop new onshore fields have not been held for the last five years.
The new law on "Subsoil and Subsoil Use" was adopted in 2010. It brought the process of granting subsoil rights to the auction system. Four or five criteria are determined by it, in particular, parameters for local content, the amount that subsoil users must allocate for staff training, etc.
"After all potential participants meet requirements and attend the tender, the issue of who has paid more bonuses to the state committee will be considered," he added.
Mynbayev said that the lifting the moratorium is connected with budget replenishment and new challenges for exploration development.