Astana, Kazakhstan, Nov. 6
Daniyar Mukhtarov - Trend: The Ministry of Industry and New Technologies of Kazakhstan is conducting a thorough inspection of all previously signed contracts for subsoil use to secure new commitments, Deputy Prime Minister of Industry and New Technologies of Kazakhstan, Asset Issekeshev said at a briefing in Astana on Wednesday.
According to him, agreements on many projects and programmes were concluded seven to 10 years ago and while completing the contracts, they included the understated liabilities of investors.
"Until late 2013 the contracts will contain $27 billion of liabilities that investors will be required to invest in the subsoil use of the republic," the minister added.
Issekeshev recalled that the Kazakh president instructed his department to bring order to the sphere of subsoil use and to give non-working fields to those who will actually engage in the development of subsoil.
"The ministry currently works hard on non-working fields and I think by late 2013 we will break at least 40 contracts on them," he said.