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Kazakhstan to auction exploration and mining rights
Date: Click quantity: 21

Kazakhstan's Ministry of energy held a news conference on the same day, announcing that it will auction 15 exploration and exploitation rights of oil and gas blocks through online auction on April 23. Relevant information can be found on the website of the Ministry of energy of Kazakhstan, and the deadline for bidding application is March 25.

This auction does not involve land ownership. According to Kazakhstan's "Mineral Law", operation in the oil and gas blocks obtained by auction only needs to obtain the approval of the Central Committee of exploration and exploitation under the Ministry of energy of Kazakhstan. After obtaining the mining right, the investor must sign the land lease agreement and hold a hearing attended by the local residents' representatives before preparing the feasibility study document.

On September 1, 2020, Kazakhstan will start online bidding for oil and gas blocks. On December 23, the first online auction of oil and gas blocks was held. The transaction price was 230 times higher than the base price of the auction, and the actual auction revenue reached 61 billion tenge, all of which were included in the national budget.