On Ratification of the Protocol on Amendments to the Protocol to the Agreement between the R K  and the Russian Federation on the Delimitation of the Bottom of the Northern Part of the Caspian Sea in order to Exercise Sovereign Rights to Subsurface Use dated July 6, 1998

The Law of the Republic of Kazakhstan dated July 13, 2016 No. 9-VI SAM

     To ratify Protocol on Amendments to the Protocol to the Agreement between the Republic of Kazakhstan and the Russian Federation on the Delimitation of the Bottom of the Northern Part of the Caspian Sea for the Purpose of Exercising Sovereign Rights to Subsurface Use dated July 6, 1998, signed in Astana on October 15, 2015.

     President of the Republic of Kazakhstan N. NAZARBAYEV

  Protocol on Amendments to the Protocol to the Agreement between the Republic of Kazakhstan and the Russian Federation on the delimitation of the bottom of the northern part of the Caspian Sea in order to exercise sovereign rights to subsurface use dated July 6, 1998

     The Republic of Kazakhstan and the Russian Federation, hereinafter referred to as the Parties, based on their mutual interest in the joint development of the hydrocarbon resources of the Tsentralnaya field, have agreed as follows:

  Article 1

     Paragraph 6 of Article 4 of the Protocol to the Agreement between the Republic of Kazakhstan and the Russian Federation on the Delimitation of the Bottom of the Northern Part of the Caspian Sea for the Purpose of Exercising Sovereign Rights to Subsurface Use dated July 6, 1998, signed on May 13, 2002, should be worded as follows:       «6. The Government of the Russian Federation grants an enterprise the right to use subsurface resources in the subsurface area within which the Tsentralnaya structure is located for geological exploration, exploration and extraction of minerals without holding an auction for a period of 25 years with a stage of geological exploration of the subsurface for a period of 7 years with the application of the general taxation regime, unless otherwise established by this paragraph.       After completing the stage of geological exploration of the subsurface, the enterprise has the right to continue using the subsurface in the relevant subsurface area with the application of the general taxation regime or to conclude a production sharing agreement with the Government of the Russian Federation in accordance with paragraph 3 of Article 6 of this Protocol.       An enterprise pays a one-time payment established by the legislation of the Russian Federation for the use of subsurface resources for a subsurface area, which is provided for use without an auction for geological exploration of subsurface, exploration and extraction of minerals carried out under a combined license, within 3 months after approval in accordance with the established procedure of the project documentation for the development of a deposit in the subsurface area, within which it is located the structure is "Central".".

  Article 2

     This Protocol shall be provisionally applied after 30 days from the date of its signature and shall enter into force on the date of receipt of the last written notification through diplomatic channels that the Parties have completed the internal procedures necessary for its entry into force.       Done in Astana on October 15, 2015, in two copies, each in the Kazakh and Russian languages, both texts being equally authentic.

     For the Republic For the Russian         Kazakhstan                       The Federation

President    

Republic of Kazakhstan     

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