The Kazakhstan government has introduced Karazhanbas oil field in Kazakhstan’s Mangistau region into the list of high-viscous ones and reduced mineral resources extraction tax for it, reads the government resolution released on Saturday.
According to the document, Karazhanbas field is included into the list low-profitable, high-viscous, water-baring and low-production rate hydrocarbon resources fields. The mineral resources extraction tax for this field was been fixed at 0.5%.
The resolution does not mention the previous tax rate, but according to the Tax Code, mineral resources extraction tax of crude oil, including gas condensate, varies between 5% and 18% depending on the volume of annual production.
Karazhanbasmunai extracts oil on Karazhanbas field on the northwest of Buzachi peninsula in Mangistau region of Kazakhstan. Karazhanbasmunai JSC is owned by KazMunaiGas Exploration and Development company and Chinese state CITIC Group Corporation, writes http://newskaz.ru.
