KIOGE-2000: Smell of Big Oil
The last oil forum which gathered quite a considerable audience has taken place against the background of heightened interest by foreign investors in oil projects in Kazakhstan. details >>
Danial Akhmetov: Oil Companies Should Develop Infrastructure
From the speech of Vice Minister of the Republic of Kazakhstan Danial Akhmetov at the KIOGE 2000
The oil in Kazakhstan has a rich history and obviously its present day and future are no less glorious. The first results of exploration drilling conducted by OKIOC on the Caspian Sea shelf have confirmed the presence of huge oil reserves. details >>
Prospects of the Oil and Gas Sector Development
From the speech of Kazakhoil President N.Balgimbaev at the International Conference of ÊIOGE 2000
Undoubtedly the main event of the year in the life of oil and gas industry is a completion of drilling of the first exploration well in the East Kashagan. This starts a qualitatively new stage of development of oil operations in Kazakhstan. details >>
Nurlan Kapparov: Plans of Industry Development
From the speech of Vice Minister of Energy and Mineral Resources of RoK Nurlan Kapparov at KIOGE 2000
Over the past 8 months of this year, 22.4 million tons of oil and gas condensate were produced in Kazakhstan. That exceeds the planned figure by 6.1%. Expected volume of hydrocarbons production in 2000 will be 33.5 million tons. By 2005 this figure should reach 60 million tons and by 2010, 88 million tons. In the first half of 2000, the total volume of investments in the mineral producing industry of Kazakhstan came to $1.6 billion. $1.2 billion were spent for oil and gas production. details >>
DECLARATION On the Ethics Code of Foreign Investors Operating in Kazakhstan 8 December 2000, Almaty, Kazakhstan
In the pursuit of the common goal of all foreign investors and the people, President, Parliament, Supreme Court, Government and other authorities of the Republic of Kazakhstan to build a sustainable and solid system of the rule of law and the highest standards of the legal framework for the rapid, balanced and fair economic and social development of Kazakhstan into the fully developed country of the prosperous market economy and strong democracy: details >>
Contractual Obligations: Achilles' Heel of Investors
In Kazakhstan, a question in regards to disadvantages of contracts signed with investors has been addressed repeatedly. However, Astana did not have legal grounds to amend subsoil use agreements. An inspection performed by a governmental commission can finally provide appropriate levels of pressure on investors in order to change contractual terms and conditions. details >>
COMPANIES
Karachaganak A World Level Project
Kazakhstan has always associated the development of its own gas industry with an increase in gas production volumes at the Karachaganak field. Recoverable reserves of this field are estimated at 2.4 billion barrels of liquid hydrocarbons and 16 trillion cubic feet of gas. details >>
Who Will Be The Operatorof OKIOC?
Presently, negotiations are being held within OKIOC to determine a single operator for the drilling operations on the Kashagan. details >>
An Oil Consortium Is Created in Kazakhstan
A consortium for developing an oil and gas industry infrastructure was established in Kazakhstan. It unites four major companies: Kazakhoil, OKIOC, Karachaganak Petroleum Operating and Tengizchevroil. details >>
CPC Linear Pipeline Portion Laying Completed
On November 22, the Caspian Pipeline Consortium welded the last section connecting the pipeline to the marine terminal of the Tengiz-Novorossisk pipeline system. There was 748 km of new pipeline built in all, and 300 km of the existing Russia's section will be modernized. details >>
KazTransOil Boosts Oil Transportation Volume
KazTransOil's Finance and Economy Vice President K. Krymov said that the company's plans for 2001 include an increase in oil transportation up to 32.8 million tons. details >>
KazTransGas Will Build a Gas Pipeline to Astana
KazTransGas is studying a project for construction of a gas pipeline to the value of $567 million from Eastern Siberia to Astana. The new pipeline is supposed to begin in the town of Ishim from the gas main of the Urengoi field in the Tyumen oblast and further to Karaganda through Petropavlovsk-Kokshetau-Astana. details >>
Aktau-Baku-Ceihan Pipeline To be Launched In 2004
It appears that the fight for Caspian oil enters the critical stage. Based on massive visits of American diplomats, the US are persistently trying to engage Kazakhstan to take part in the Baku-Ceihan project.
Recently at the oil forum in Almaty, the US President's Adviser John Wolf was actively promoting this route of oil transportation. A bit later, the Ambassador to CIS countries Steven Sestanovich who visited Astana paid special attention to this issue. After him, Elisabeth Jones who replaced Wolf the post of US President's Adviser in Caspian Energy Issues came to Kazakhstan. details >>
An Oil Fund Will be Supervised by the Council
A National Fund for Development being established in Kazakhstan will be controlled by a special supervisory council. This will include representatives of the government, Presidential adminsitration and parliament. details >>
News economics
Kazakhstan Plans To Increase Oil Production In 2001 Up To 37 Million Tons.... details >>
LEGISLATION
Certain Issues of Improving Subsoil Legislation
The subsoil legislation of Kazakhstan gives rise to the investors' unfavorable criticism due to its imperfection, as well as difficulties in interpreting and applying some of the provisions of amended legislation. In particular, it concerns the licensing of subsoil operations. In this connection, the Prime Minister, in his Order No. 78-p of May 18, 2000,set up a working group assigned with the preparation of a draft law providing for certain amendments and additions to subsoil legislation.
Kulgaisha Mukasheva, Coudert Brothers; Gulmira Utegenova, Coudert Brothers details >>
Problems of Enforcement of Laws
By Aigoul T. Kenjebayeva, Partner of Salans Hertzfeld & Heilbronn
Yuliya Mitrofanskaya, Associate with Salans Hertzfeld & Heilbronn
Strict enforcement of laws is one of the important tasks and functions for any state. However, this normal function of the state becomes problematic when laws are unclear, contradictory or are not realistic. details >>
Legal Frame for Offshore Operations
By Maxim Telemtaev and Roza Abirova, Macleoud Dixon LLP
The purpose of this article is to reflect current legal situation with regard to the offshore operations and to point out the most important legal aspects. At the same time the authors are trying to answer one of the most acute questions: "What is the procedure of issuance of licenses for conducting oil operations offshore?" details >>
Kazakhstan's Work Permit Program
Despite recent efforts to overcome problems with its quota on work permits for foreign employees, the Government of Kazakhstan's program to regulate the number of foreign workers in Kazakhstan continues to be in disarray, and it remains unclear how the program will operate in 2001 and thereafter. details >>
Russia Will Build a Gas Pipeline By-passing Ukraine
Ukraine's transit tariffs on pumping Russia's oil, which are currently operating in the directions to Novorossisk ($2.35) and Odessa ($4.90) at the rate of one ton per 100 km, are much higher than that of within Russia. details >>
Ashkhabad Could Not Refuse Gasprom
Gasprom's head R.Vyakhirev requested an additional 8 billion m3 of gas from Turkmenia to be supplied in 2000. Russia' party considers $36 per thousand cubic meters to be sufficient payment for this gas under the terms and conditions of that year's contract. details >>
Gasprom: Monopoly Splits
According to experts, a campaign to withdraw the head of Gasprom has began in Russia. The contract of the gas monopoly's head Rem Vyakhirev with the state expires in Spring 2001, and most likely his team will be removed from management of Gasprom. details >>
Literature on oil business
The system of taxation is a very important characteristic of oil production. Geological, engineering and financial approaches to the oil production organization are universal, unlike taxation. This problem is significant to the extent that understanding at least the principal basis is obligatory for any specialist. details >>
