BAKU, Azerbaijan, December 30. Kazakhstan currently has 15 sedimentary basins of hydrocarbons with predicted resources of about 76 billion tons, Trend reports, citing the press service of the Ministry of Energy of Kazakhstan.
According to the statement, up to 40 billion tons of hydrocarbons lie in unexplored and deep-lying horizons.
Such reserves are unattractive to potential investors.
In order to entice investors, Kazakhstan aims to revamp existing investment mechanisms by introducing various privileges for businesses investing in the exploration of complex projects.
Some of these privileges include the possibility of protecting violated rights both in the courts of Kazakhstan and in international arbitration, a simplified transition from the exploration stage to the production stage, reduction of the property tax, and others.
Potential investors will also have several conditions, which they will need to observe. Those include ensuring that 70 percent are local staff, creating a program for the development of local suppliers of goods, and others.