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Kazakhstan Decides to Sell Oil, Gas Fields via E-auction

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In Kazakhstan, on December 23, for the first time, online auctions will be held for the right to exploration and production in oil and gas fields. Anyone can follow the course of trading – the operator has created a separate online auction room for this

This was reported in the press service of the Ministry of Energy. The department recalled that the online auction service was launched on September 1, 2020 on the state property register portal www.gosreestr.kz.

“With its help, the Ministry of Energy intends to grant the right to subsurface use to investors. Today an interactive map containing information on 82 sites is available to everyone. To initiate an auction for each of the objects, a potential investor just needs to submit an application online, after which the process of auctioning exploration and / or development of the field is launched,” the Ministry said.

A total of 10 plots were exposed, but on December 23 an auction will be held on 7 plots. For three others, auctions were canceled due to lack of a minimum number of participants.
“The 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, limits participants in submitting applications. For example, if the applicant has tax debts,” the Ministry of Energy said.    

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