Online auctions for granting the right to explore and produce oil and gas fields will be held in Kazakhstan for the first time on December 23

Everyone can follow the bidding process – the operator has created a separate online auction hall for this purpose (https://e-auction.gosreestr.kz/p/ru/TrackerAuctionsInOneRoom).

Online auction service was launched on September 1, 2020 on the state property registry portal www.gosreestr.kz. With its help, the Ministry of Energy of the Republic of Kazakhstan intends to grant the right to subsurface use to investors. Today, an interactive map containing information about 82 plots is available to everyone. To initiate an auction for each of the objects, a potential investor only needs to submit an application online, after the auction process of granting the right to explore and/or produce the field is launched.

A total of 10 plots were put up, but only 7 plots will be auctioned on December 23. Three other auctions were canceled due to the lack of a minimum number of participants.

A new mechanism will make the market transparent, reduce bureaucracy and significantly reduce costs for both business and the state.

The information system, through integration with state databases, makes a preliminary assessment and, if necessary, restricts participants in submitting applications. For example, if the applicant has tax debts.

Everyone can watch the bidding process online.

(Image from petroleumjournal.kz site)

Unofficial translation