BAKU, Azerbaijan, Feb. 2
Trend:
Some 31 contracts were terminated and 101 field development licenses were abolished in Kazakhstan due to improper performance as of February 1, 2022, Trend reports via the Kazakh government’s press service.
The issue was discussed at a meeting on geological exploration, held by the country’s Prime Minister Alikhan Smailov.
At present, an area of over 1.3 million square kilometers is provided for granting the right to subsoil use in the country.
The State Subsoil Fund Management Program includes 1.65 million square kilometers, and it’s necessary to include more than 259,000 square kilometers.
In order to attract investments in the exploration, development of unused deposits, it’s planned to open the entire accessible territory of the country for subsoil use.
Currently, the analysis of the fulfillment of contractual obligations of subsoil users continues. The contracts for which the identified violations haven’t been eliminated will be terminated and put up for auction to attract new investments.
The prime minister instructed to speed up a large-scale audit in the field of subsoil use and determine a specific list of unused deposits.
