About the International Consortium for the assessment of the oil and gas potential of the Kazakh sector of the Caspian Sea

DECREE of the President of the Republic of Kazakhstan dated January 24, 1994 No. 1517

 In order to study the prospects of oil and gas potential and further development of offshore fields in the Kazakh sector of the Caspian Sea and guarantee the rights of foreign participants of the international Consortium

performance:      

1. To approve the Agreement dated December 3, 1993 on the establishment of an international consortium between the Republic of Kazakhstan represented by the Ministry of Energy and Fuel Resources of the Republic of Kazakhstan, the state-owned company Kazakhstankaspiyshelf, Ajip S. in accordance with P. A. N., British Gas Exploration and Production Limited, BiPi Kazakhstan Limited, Den Norske Statseselskap a. according to S. N.", "Mobile Thought Kazakhstan Inc.", "Shell Kazakhstan Development B. V.", "Total Exploration Production Kazakhstan", the goals of which meet the interests of the Republic of Kazakhstan.      

2. To establish and maintain for the foreign participants of the Consortium the regime of economic, tax and legal stability of the project, provided for by the agreement, during the agreed period of their activities for the exploration and production of hydrocarbons in the Kazakh sector of the Caspian Sea.      

3. To grant the foreign participants of the Consortium the right to freely export their share of hydrocarbons in accordance with the proportions stipulated by the agreement.      

4. To establish that all financial expenses of foreign participants, in accordance with the Consortium agreement, relate to research, design, exploration and exploration activities.      

5. Grant the state-owned company Kazakhstankaspiyshelf, as the Operator of the Consortium, the right to make payments in foreign currency on its behalf under the Agreement and open accounts with foreign banks in coordination with the relevant republican authorities.      

6. To establish that changes to the terms and conditions of the Agreement approved by this Decree may be made only on the basis of the written consent of the Government of the Republic of Kazakhstan and the Consortium members.

President    

Republic of Kazakhstan     

 Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases