Middle East Economic Survey
VOL. XLVIII
No 21
23-May-2005
CASPIAN
Kazakh Parliament Passes New Offshore Contract Law
The Kazakh parliament on 18 May approved a new law governing production-sharing agreements (PSAs) in the offshore Caspian ahead of licensing rounds that could begin before the end of the year. The new law limits foreign participation to 50% in each concession, with no guarantees of operatorship. The remaining 50% is to go to state-owned oil and gas company KazMunaiGaz, which apart...
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