Good day to you, Ladies and Gentlemen!

Firstly, I would like to greet all participants of this 13th International «Oil and Gas» Conference on behalf of GRATA Law Firm, and to thank its Organizers for the opportunity to make this presentation.

In the last 2 to 3 years, Kazakh legislation regulating oil operations has undergone a series of amendments. These amendments exert a significant influence on subsoil users as well as on whole investment climate in the country.

In my report I gave you a brief overview of the most significant innovations and also some indication of how they fit into existing Kazakh legislation.

1. STATE'S PRIOR PURCHASE RIGHTS IN ALIENATIONS IN SUBSOIL-USE PROJECTS

Certain amendments to the Law «On Oil» came into force on 8 December 2004. Under these amendments the State was granted a prior right to purchase shares in subsoil-use projects.

What do these amendments mean and in particular what are the effects for the investors?

If you are interested to get full version of the material, please contact the author of the report Mrs. Dilyara Yelzhassova, Partner at GRATA Law Firm.