BAKU, Azerbaijan, August 6
By Nargiz Sadikhova - Trend:
Kazakhstan’s Ministry of Energy is planning to hold an auction for the subsoil use right before the end of the year, Kazakhstan Vice Minister of Energy Zhumabay Karagayev said, Trend reports.
Karagayev noted that 251 hydrocarbon contracts were signed in 2020. Of these, 45 agreements were on exploration, 85 were on production, and 110 were on joint geological exploration. The volume of investments in geological exploration work at the end of 2020 amounted to 137.6 billion tenge ($325.2 million).
“On September 1, 2020, the first electronic auction for subsoil use have been held. The Ministry of Energy announced the first electronic auction on September 28, 2020 for 10 subsoil plots in West Kazakhstan, Atyrau and Aktobe regions,” he said.
Until the end of this year, the ministry plans to hold another auction for 25 subsoil plots.
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