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Kazakhstan

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Kazakhstan > Legal Developments > Projects, Energy & Natural Resources > Law firm and leading lawyer rankings

Editorial

Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

SUBSOIL AND SUBSOIL USE LEGISLATION: NEW CONCEPT

Dr. Olga Chentsova, Managing Partner

Natalya Braynina, Partner 

A quality subsoil and subsoil use legislation is of strategic importance for Kazakhstan.  Since the appearance of the first independent Kazakhstan's regulatory acts governing subsoil use relations and until nowadays, this legislation has undergone a huge number of changes, both conceptual and less important.  It was especially feverish in recent years.  Amendments adopted in December 2014 have perceptibly changed the situation and for the first time over the past 15 years there appeared a trend towards liberalization of legislation regulating the country's pivotal industry.

Liability for Irrational Subsoil Use

Liability for Irrational Subsoil Use

Sofiya Sailauovna Zhylkaidarova,

Managing Partner, SIGNUM Law Firm

The export of crude oil and other natural resources is one of the basic sources of income of our country. However, the active development of the oil and gas industry is related to the increased risk in the environment. Because of this, special legislation is actively being developed; new tendencies of the recent years include resolving actual issues of preservation and the rational use of subsoil resources. In pursuance of preservation and the rational and multiple use of subsoil resources, the legislator pays close attention to responsibility issues as the major “tool” and legal remedy to support rule of law in the subsoil use area.

Gas industry in Kazakhstan

Kazakhstan's key industrial sectors are oil and gas, mining, electricity, transport and communications, chemicals and pharmaceuticals. These sectors were recognised as development priorities in the Government Programme for Accelerated Industrial-Innovative Development (2010 – 2014) (the "Programme"), the aim of which is to diversify the Kazakh economy and modernise industry. Therefore, in 2012, the major changes to the gas sector in Kazakhstan were a result of the Law on Gas and Gas Supply (the "Law on Gas") and appointment of KazTransGas JSC as the sole national operator.

Overview of Legislation concerning the State Support of Industrial and Innovation Activities

This article is prepared by Miran Maulenov, Cand. Sc Law, Managing Partner of Olympex Advisers LLP. For further information please email to Miran.Maulenov@olympex.kz

Our company continues to keep you informed about the recent important developments in the legislation of the Republic of Kazakhstan.

Apart from subsurface users, this article will also be of interest to other companies engaged in implementing investment projects or intending to invest in the territory of the Republic of Kazakhstan.

Speaking about the domestic investment climate, it should be noted that Kazakhstan improves its positions from year to year, ranking currently 47th by 2012 Doing Business (e.g. Russia is 120th), and 36th by the International Institute of Management Development (Russia is 49th).

Such high performance indicators have been achieved due to the timely decision made by the Head of the State to promote modernization and diversification of the Kazakhstan economy, which served as basis for the adoption of the Sate Programme of Forced Industrial and Innovation Development of the Republic of Kazakhstan in 2011- 2014.

On 9 January 2012, for the purpose of implementation of the above programme, the following laws were enacted: "On the State Support of Industrial and Innovation Activities" and "On Introduction of Amendments into Certain Legislative Enactments Concerning the State Support of Industrial and Innovation Activities", which contain new instruments of support and preferences both for local and foreign investors.

In this article we have attempted to cover the most important and key provisions of these laws in the drafting of which our company's experts were directly involved.

Transfer of the subsoil use right in Kazakhstan: risks and recommendations overview

This article is prepared by Yessen Massalin, Head of Corporate practice. For further information please email to yessen@olympex.kz 

The article analyses the main requirements established by the Subsoil Use Law 2010 in regard to transfer of the subsoil use rights in Kazakhstan. At the same time, a comparison analysis has been done with respect to the previous law that reveals some advantages and complications of the new law while transferring of the subsoil use tights. The article also focuses on exemptions available under Subsoil Use Law that allow for subsoil users to sell the subsoil use right in Kazakhstan without state consent and obtaining waiver of the state priority right.

LOCAL CONTENT REQUIREMENTS: POTENTIAL LIABILITY

Ministry of Oil and Gas for the first time to impose the fines on the companies which are in breach of local content requirements.

NEW LAW OF THE REPUBLIC OF KAZAKHSTAN “ON GAS AND GAS SUPPLY”

The new law of the RK “On gas and gas supply” # 532-IV was the first time officially published in media on 9 January 2012 and has later entered into legal force on 29 January 2012 with some exceptions to be entered into legal force later, up to 1 July 2013.

Interview with...

Law firm partners and practice heads explain how their firms are adapting to clients' changing needs