In Kazakhstan the right to subsoil use for hydrocarbon raw materials will be granted through electronic auctions

This became possible due to the proposed amendments to the Code on subsoil and subsoil use, allowing the auctions in electronic format, the press service of ME RK reports.

The Ministry of Energy is working systematically to improve granting the right to subsoil use of hydrocarbons.

In order to implement the Law of the Republic of Kazakhstan dated December 30, 2019 "On amendments and additions to certain legislative acts of the Republic of Kazakhstan on subsoil use, gas and gas supply», the Ministry of Energy of Kazakhstan adopted several legal acts, including decree No. 269 dated  July 30, 2020 "On approval of Rules of carrying out of auction with use of Internet resource of the operator of electronic auctions for granting subsoil use rights of hydrocarbons in electronic form" (registered in the Register of state registration of normative legal acts July 30, 2020 No. 21038).

So, in accordance with the adopted amendments to the Code of the Republic of Kazakhstan "On subsoil and subsoil use", if earlier auctions were held in paper format, which caused some inconvenience to participants, then from September 1 of this year, persons interested in obtaining the right to subsoil use will be able to participate in auctions online.

The introduction of electronic auctions will create a transparent mechanism for conducting auctions in electronic form, and will also have a positive impact on improving the competitive environment.

If you have any questions about the rules of electronic auctions, you can ask them in the chat channel of the Ministry of energy in Telegram at : https://t.me/minenergy_kz 

Unofficial translation