BAKU, Azerbaijan, January 12. Investments worth 5.9 trillion Kazakh tenge ($12.78 billion) were made in Kazakhstan’s energy sector from January through September 2022, Bulat Aqchulaqov, Minister of Energy of Kazakhstan, said, Trend reports, citing Kazakh media.
The amount of declared investment in exploration amounted to about 56 billion Kazakh tenge ($121.3 million).
Aqchulaqov added that the ministry carried out auctions for granting the rights to subsoil use. Some 49 subsoil exploration rights were sold at the auction, with a total price of 39 billion Kazakh tenge ($84.5 million).
Currently, Kazakhstan 304 contracts for the use of subsoil with a purpose of extracting oil, gas and uranium are active, he added.
The minister also stated that the work on the contract revision of subsoil plots held for a long time by subsoil users without fulfilling contractual obligations is being carried out. In the oil and gas sector, 12 contracts with systematic violations out of 27 were terminated.
“Under 9 contracts, the debt in the amount of 1.5 billion Kazakh tenge ($3.2 billion) was repaid, under 4 contracts lawsuits were filed, and under 2 contracts the work continues in accordance with the legislation”, Aqchulaqov noted.