Rights for subsoil use of hydrocarbons be issued via online auctions in Kazakhstan
BAKU, Azerbaijan, Aug. 10
By Nargiz Sadikhova - Trend:
The rights for subsoil use of hydrocarbons will be provided via electronic auctions in Kazakhstan, Trend reports with reference to Kazakhstan’s Ministry of Energy.
The ministry said that this became possible thanks to the amendments made to Kazakhstan’s Code on Subsoil and Subsoil Use, which allows holding auctions online.
Previously, the auctions were held in paper format, which caused certain inconveniences to the participants. Now, in accordance with the adopted amendments to the Code, those interested in obtaining the right to subsoil use will be able to participate in auctions in online mode.
Online auctions will be launched Sept. 1, 2020.
The ministry also emphasized that introduction of electronic auctions will create a transparent mechanism for conducting auctions in electronic form, and will also have a beneficial effect on increasing the competitive environment in the country’s subsoil use sector.
In June, Kazakhstan's Ministry of Energy has been instructed to ensure the launch of an online auction system for provision of subsoil use rights for hydrocarbons before the end of 2020.
The topic was discussed during a meeting of the State Commission on Digitalization under Kazakhstan’s President held on June 26, 2020.
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